Weekly Cotton Market Review
Spot quotations averaged 722 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, and uniformity 81.0-81.9) in the seven designated markets averaged 113.99 cents per pound for the week ending Thursday, November 4, 2021. This is the highest weekly average since week ending July 14, 2011 when the average was 117.85.
The weekly average was up from 106.77 cents last week and up sharply from 65.02 cents reported the corresponding period a year ago. Daily average quotations ranged from a low of 111.67 cents Friday, October 29 to a season high of 116.66 cents Monday, November 1.
Spot transactions reported in the Daily Spot Cotton Quotations for the week ended November 4 totaled 50,792 bales. This compares to 44,019 reported last week and 16,224 spot transactions reported the corresponding week a year ago. Total spot transactions for the season were 185,639 bales compared to 317,261 bales the corresponding week a year ago. The ICE December settlement price ended the week at 116.46 cents, compared to 113.73 cents last week.