On May 21-27, 2021, the average spot price of standard grade in the seven major domestic markets in the United States was 78.50 cents/pound, an increase of 0.04 cents/pound from the previous week and an increase of 24.99 cents/pound from the same period last year. That week, 744 packages were traded in the seven major domestic spot markets in the United States, and a total of 1,362,296 packages were traded in 2020/21.
The spot prices of upland cotton in various regions of the United States are stable, and foreign inquiries in the Texas region are light. Pakistan and Turkey have the best demand. The epidemic continues to cause logistics obstruction, and the fluctuations in ICE futures have made most Traders and textile mills are withdrawing from the market and waiting to see. Cotton merchants report that non-US cotton such as Australian cotton and Brazilian cotton has been sold, and cotton merchants have postponed US cotton orders and shipments; foreign inquiries in the western desert area are light, and the backlog of port cargo is still a problem. However, it has improved. Foreign demand in the Covenant gold region is acceptable, and shipments are still a problem; Pima cotton prices are stable, foreign inquiries are light, and old cotton quotations are firm. Cotton merchants ship in batches or postpone orders.
That week, domestic textile mills in the United States made inquiries for cotton of length 41-4-34 and above for shipment in the first to fourth quarter of 2022. The demand for yarn was good, and some factories were affected by the The shortage of labor forces limits the start-up rate to still be low, and current production is still dominated by front-line personal protective equipment and general consumption. US cotton exports are light, and there are inquiries for various low-price varieties from the Far East.
There is rain in some parts of the southeastern United States, and sowing is proceeding normally; rainfall is scarce in the northern part of the delta region, so sowing is progressing rapidly, and new cotton emerges smoothly and grows vigorously. There are strong thunderstorms in the southern part of the delta region, and some There are floods in the area, so the planting work is delayed. The planting area in Louisiana may be significantly reduced. The recent continuous heavy rain has caused water in the cotton fields to be difficult to recede, and the planting has been delayed for at least two weeks.
There are scattered rainfalls in southern and eastern Texas. Crops in the Rio Grande River Basin are growing smoothly. They have now entered the flowering period, and bolls have begun to form at the bottom. In most areas The water receded quickly, and some cotton fields in Kansas were replanted with other crops. Excessive rain in Oklahoma delayed planting, but the easing of drought allowed new cotton to emerge smoothly.
Throughout May, the drought situation in western Texas improved every week. There were continuous thunderstorms in most areas of the plateau and plains, which destroyed some cotton fields. The damage has not yet been assessed. Rainy weather will continue in the near future. At present, some new cotton seedlings have emerged in western Texas, but due to the weather, sowing has not been carried out on a large scale, and the soil in hilly areas is too wet to sow.
New cotton is growing smoothly in the western desert area, and the seedlings have reached 4 true leaves. There was snowfall in the mountains of the San Joaquin region, and drought in the valleys worsened. Pima cotton has two true leaves. </p
