By admin       2018-09-24

Spot cotton trading was inactive. Supplies of available cotton were light. Demand was light. Average local spot prices were lower. Trading of CCC-loan equities was slow. No forward contracting was reported. Hot and clear weather allowed the crop to make excellent progress during the week. Daytime high temperatures were in the upper 90s. Overnight lows were in the low 70s. Defoliation gained momentum as fields reached full maturity. A few fields in Mississippi were too soft to support equipment after heavy rainfall last week. Producers in Louisiana and Mississippi commenced harvesting cotton in areas not affected by excessive precipitation. According to the National Agricultural Statistics Service’s (NASS) Crop Progress report released September 17, the crop condition in Louisiana was rated at 97 percent fair-to-excellent and 95 percent in Mississippi. NASS also reported that harvesting had reached 6 percent in Mississippi and 14 percent in Louisiana. Ginning was underway in a few areas.

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