By admin       2018-05-12

Average quotations were 131 points higher than the previous week, according to the USDA, Agricultural Marketing Service’s Cotton and Tobacco Program. Quotations for the base quality of cotton (color 41, leaf 4, staple 34, mike 35-36 and 43-49, strength 27.0-28.9, uniformity 81.0-81.9) in the seven designated markets averaged 81.53 cents per pound for the week ending Thursday, May 10, 2018. The weekly average was up from 80.22 last week and 74.33 cents reported the corresponding period a year ago. Daily average quotations ranged from a high of 82.71 cents Friday, May 4 to a low of 80.33 cents Thursday, May 10. Spot transactions reported in the Daily Spot Cotton Quotations for the week ended May 10 totaled 35,776 bales. This compares to 25,892 bales reported last week and 3,507 spot transactions reported the corresponding week a year ago. Total spot transactions for the season were 1,912,481 bales compared to 1,556,676 bales the corresponding week a year ago. The ICE July settlement prices ended the week at 84.56 cents, compared to 84.50 cents last week.

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