By admin       2018-05-21

Average quotations were 134 points lower 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 80.19 cents per pound for the week ending Thursday, May 17, 2018. The weekly average was down from 81.53 last week, but up from 78.53 cents reported the corresponding period a year ago. Daily average quotations ranged from a low of 79.64 cents Monday, May 14 to a high of 81.02 cents Thursday, May 17. Spot transactions reported in the Daily Spot Cotton Quotations for the week ended May 17 totaled 33,669 bales. This compares to 35,776 bales reported last week and 4,198 spot transactions reported the corresponding week a year ago. Total spot transactions for the season were 1,946,150 bales compared to 1,560,874 bales the corresponding week a year ago. The ICE July settlement prices ended the week at 85.03 cents, compared to 84.56 cents last week.

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