Cotton spot quotation for May down 101 pts than previous month, says USDA

05 Jun '05

2 min read

Average spot cotton quotations were 101 points lower in May than the previous month, according to the USDA, Agricultural Marketing Service's Cotton Program.

The average spot quotation in the seven designated markets for color 41, leaf 4, staple 34, mike 35-36 and 43-49, strength readings of 26.5-28.4 grams per tex, and uniformity of 81 units was 48.57 cents per pound.

The average basis for the base quality at the end of May was 318 points off the New York July 2005 No. 2 futures contract. Spot transactions reported in the designated markets for May totaled 93,451 running bales.

Spot cotton quotations for color 41, leaf 4, staple 34, mike 35-36 and 43-49, strength readings of 26.5-28.4 grams per tex, and uniformity of 81 units in the designated spot markets averaged
48.57 cents per pound in May. Quotations averaged 49.58 cents in April and 60.22 cents in May 2004. Daily average quotations ranged from a low of 45.46 cents on May 31 to a high of 52.18
cents on May 11.

Prices received by farmers for Upland cotton averaged 42.20 cents per pound in mid May, according to the National Agricultural Statistics Service, USDA. This compares with 43.10 cents for the entire month of April and 59.70 cents in May last year. These prices include cotton delivered against forward contracts.

Download Cotton Price Statistics for more details.

United States Department Of Agriculture

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