Vol. 99 No. 24

January 19, 2018

Inside this Issue

Market Overview

Price Support

Spot Quotations

ICE Futures

A Index

Southeastern

Textile Mill Report

South Central

Southwestern

Western

Pima Quotations

Cotton and Tobacco Program Cotton Market News Division 3275 Appling Road Memphis, TN 38133 901.384.3016

Average quotations were 220 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 79.04 cents per pound for the week ending

Thursday, January 18, 2018. The weekly average was up from 76.84 last week and from 70.92

cents reported the corresponding period a year ago. Daily average quotations ranged from a low

of 78.66 cents Tuesday, January 16 to a high of 79.56 cents Thursday, January 18. Spot

transactions reported in the Daily Spot Cotton Quotations for the week ended January 18 totaled

95,760 bales. This compares to 148,565 bales reported last week and 53,781 spot transactions

reported the corresponding week a year ago. Total spot transactions for the season were

1,162,776 bales compared to 926,811 bales the corresponding week a year ago. The ICE March

settlement prices ended the week at 82.63 cents, compared to 82.65 cents last week.

Mp_cn812 Weekly Cotton Market Review

Cotton Market Reports

Subscribe to this report

Sources: USDA, AMS, Cotton and Tobacco Program, 1/ Cotlook

Subscribe to all Cotton Market reports

Date SE ND SD ET-OK WT DSW SJV 7-MKT AVG

12-Jan 82.18 80.68 80.68 78.00 76.50 76.68 77.68 78.91

15-Jan Holiday Holiday Holiday Holiday

16-Jan 81.93 80.43 80.43 77.75 76.25 76.43 77.43 78.66

17-Jan 82.64 81.14 81.14 77.25 75.75 77.14 78.14 79.03

18-Jan 83.13 81.63 81.63 77.75 76.25 77.88 78.63 79.56

Date SE ND SD ET-OK WT DSW SJV 7-MKT AVG

12-Jan 84.93 82.43 82.43 79.75 78.50 80.68 86.58 82.19

15-Jan Holiday Holiday Holiday Holiday

16-Jan 84.68 82.18 82.18 79.50 78.25 80.43 86.33 81.94

17-Jan 85.39 82.89 82.89 79.00 77.75 81.14 87.04 82.30

18-Jan 85.88 83.38 83.38 79.50 78.25 81.88 87.53 82.83

Date Mar-18 May-18 Jul-18 Oct-18 Dec-18 Mar-19

12-Jan 81.68 81.96 82.22 76.77 75.34 75.61

15-Jan Holdiay Holiday Holiday

16-Jan 81.43 81.67 81.86 76.50 75.03 75.27

17-Jan 82.14 82.39 82.60 76.90 75.09 75.24

18-Jan 82.63 82.99 83.36 77.23 75.28 75.28

Date SE ND SD ET-OK WT DSW SJV PIMA

12-Jan 0 0 0 3,646 17,914 1,875 0 0

15-Jan 0 0 0 0 0 0 0 0

16-Jan 0 0 0 7,150 9,985 1,138 0 375

17-Jan 0 0 0 8,651 16,723 0 0 167

18-Jan 0 0 0 8,082 19,501 1,095 0 152

Weekly Totals 0 0 0 27,529 64,123 4,108 0 694

Average Prices 41-4-34

92.35

92.35

92.10

92.85

Far EasternA Index 1/

Average Prices 31-3-35

Futures Settlement

Spot Transactions

Current

93.35

2

Spot cotton trading was inactive. Supplies and producer

offerings were moderate. Demand was moderate.

Average local spot prices were higher. Trading of

CCC-loan equities was inactive.

Mostly clear to fair conditions prevailed across the

entire Southeastern region during the period with daytime

highs in the low 30s to mid-40s. A cold front entered the

region mid-week, ushering in Winter Storm Inga and

freezing rain and snow. Winter storm and wind chill

advisories were issued across the region as locales

experienced extremely hazardous driving conditions and

dangerously cold wind chills. Sleet and snowfall

accumulations ranged from trace amounts to around 2

inches in areas of the lower Southeast to around 4 to 9

inches in portions of the Carolinas and Virginia.

Producers welcomed the moisture, which helped

alleviate abnormally dry-to-moderate drought conditions

throughout areas of the region from the Gulf to Atlantic

Coasts. The Macon and Florence Classing Offices were

closed due to inclement weather on Wednesday, January

17. Ginning continued throughout the region, but was

winding down at many locations. Producers considered

spring planting options and made plans to attend annual

meetings scheduled across the region.

Textile Mill

Demand was good for 2017 and 2018-crop cotton, color

41, leaf 4, and staple 34 and longer for third and fourth

quarter 2018 delivery. No sales were reported. No

additional inquiries were reported. Winter Storm Inga

disrupted raw cotton deliveries and finished product

shipments at some plants. Operations were also delayed at

some locations, due to absent workers.

Demand through export channels was moderate.

Agents throughout the Far East inquired for any

discounted styles of low mike cotton.

Trading

No trading activity was reported.

Southeastern Markets Regional Summary Danny Pino Macon, GA Danny.Pino@ams.usda.gov

3

North Delta

Spot cotton trading was inactive. Supplies of available

cotton were light. Demand was light. Average local spot

prices were higher. Trading of CCC-loan equities was

inactive. A light amount of forward contracting was

reported. Cotton was being delivered to fulfill contracts.

Winter Storm Inga brought a wintry mix of rain, sleet,

and snow showers to the region early week. Daytime

temperatures plummeted into the single digits, with wind

chill factors below zero. Treacherous road conditions

prompted the closure of all schools, many businesses, and

most government services, with the exception of first

responders. About 4 inches of snow accumulated in most

areas, with 5 to 7 inches in northern areas. Ginning was

slowly winding down throughout the region. The

Memphis Classing Office closed for several days, due to

the observance of Martin Luther King, Jr. Day and

inclement weather; several thousand bales were classed

during the week. Outdoor activities were at a halt due to

bitter conditions. Cotton extension specialists were

confident that the subzero temperatures would eliminate

many overwintering insect pests. Producers made plans to

attend regional and national industry meetings. According

to the U.S. Drought Monitor, severe drought conditions

improved to moderate in Arkansas and the Bootheel of

Missouri as a result of the recent precipitation;

soil moisture conditions remained adequate in the

cotton-producing areas of Tennessee.

South Delta

Spot cotton trading was inactive. Supplies of available

cotton were light. Demand was light. Average local spot

prices were higher. Trading of CCC-loan equities was

inactive. A light amount of forward contracting was

reported. Cotton was being delivered to fulfill contracts.

Winter Storm Inga brought a wintry mix of

precipitation to the region early week. Daytime

temperatures hovered in the teens, with wind chill factors

in the single digits. Icy road conditions prompted the

closure of some sections of interstate highways

in Louisiana, as well as schools, retail operations,

and government services. About 2 inches of snow

accumulated in most areas. Outdoor activities were idle

due to cold, wet conditions. Cotton extension experts

were optimistic that the freezing temperatures would

destroy many overwintering insect pests. Producers

attended various industry meetings. Moderate-to-severe

drought conditions improved in northeastern Louisiana

and parts of Mississippi, according to the U.S. Drought

Monitor.

South Central Markets Regional Summary Jeff Carnahan Memphis, TN Jeff.Carnahan@ams.usda.gov

Trading

North Delta

Producers booked a light volume of 2018-crop cotton at even ICE December 2018 futures with government discounts.

South Delta

Producers booked a light volume of 2018-crop cotton at even ICE December 2018 futures with government discounts.

4

East Texas Spot cotton trading was active. Supplies and producer

offerings were moderate. Demand was moderate.

Average local spot prices were higher. Producer interest

in forward contracting was moderate. Trading of

CCC-loan equities was active. Foreign inquiries were

moderate. Interest was best from China, Taiwan, and

Turkey.

South and east Texas experienced frigid weather

conditions from Winter Storm Inga that brought drizzle,

sleet, and snow. Some areas of the Rio Grande Valley

received a light dusting of snow on January 16. The

daytime temperatures in Harlingen were variable in the

mid-20s to low 60s. Pressing services were finalized in

south Texas and in the Winter Garden areas. Ginning

continued in the northern Blackland Prairies. Ginning

continued in Kansas, with daytime temperatures in the low

20s to low 50s and overnight lows in the single digits to

low 20s. Conditions were similar in Oklahoma with

reports of ginning continuing into May and possibly June,

due to the size and exceptional yield of the crop. No

precipitation was reported. Producers attended the Red

River Crops Conference held in Altus, Oklahoma on

January 17 and 18. The event was co-hosted by the

Oklahoma State University Extension and the Texas

A&M Agrilife Extension. Attendees received the latest

updates on markets, herbicides, weed control, Bt

technology, and cover crop production.

West Texas Spot cotton trading was active. Supplies and producer

offerings were heavy. Demand was very good. Average

local spot prices were higher. Producer interest in forward

contracting was light. Trading of CCC-loan equities was

active. Foreign inquiries were moderate. Interest was

best from China, Taiwan, and Turkey.

Dry conditions prevailed with temperature variances in

the mid-20s to the low 60s across the region. Extremely

cold air moved through early in the reporting period.

Some fires were reported at gins during times of high

winds gusting around 50 miles per hour. Some fields have

not been harvested and were under evaluation by

insurance adjusters. Ginning continued with some delays

caused by high winds. More than 20 gins have finalized

pressing services for the season. Some gins have worked

together processing modules to help finish the season.

Regional meetings and trainings were hosted. The Texas

Department of Agriculture requires additional training for

dicamba herbicide applicators. The Texas A&M Agrilife

Extension announced a schedule of trainings offered to

producers with applicator licenses.

Southwestern Markets Regional Summary Jane Byers-Angle Lubbock, TX Jane.Byers-Angle@ams.usda.gov

Trading

East Texas

In Kansas, a light volume of color 21 and 31, leaf 2, staple 34 and 35, mike averaging 36.3, strength averaging 28.6,

and uniformity averaging 79.8 sold for around 76.00 cents per pound, FOB car/truck (compression charges not paid).

In Oklahoma, a moderate volume of mostly color 31, leaf 3 and 4, staple 36 and 37, mike averaging 43.9, strength

averaging 30.4, uniformity averaging 81.1, and 50 percent extraneous matter sold for around 78.00 cents, same terms

as above.

A light volume of mostly color 21 and 31, leaf 2 and 3, staple 35 and 36, mike 33-38, strength 30-31, uniformity

78-80, and 25 percent extraneous matter sold for around 74.00 cents, same terms as above.

A heavy volume of CCC-loan equities traded for around 21.00 to 24.00 cents.

West Texas

A heavy volume of color 11 and 21, leaf 3 and better, staple 35 and 36, mike 35-37, strength 28-29, and uniformity

78-81 sold for around 78.25 cents per pound, FOB car/truck (compression charges not paid).

A moderate volume of color 31, leaf 2, staple 34 and 35, mike 33-38, strength 27-29, and uniformity 76-79 sold for

around 72.50 cents, same terms as above.

A mixed lot containing a moderate volume of mostly color 32 and better, leaf 4 and 5, staple 35-37, mike 27-34,

strength 27-33, uniformity 77-82, and 75 percent extraneous matter sold for around 61.00 cents, same terms as above.

A light volume of CCC-loan equities traded for around 15.50 to 17.75 cents.

5

Southwestern Markets Regional Summary Jane Byers-Angle Lubbock, TX Jane.Byers-Angle@ams.usda.gov

Photos Courtesy of: Jane Byers-Angle

6

Desert Southwest (DSW) Spot cotton trading was active. Supplies and demand were

moderate. Average local prices were higher. Producers

delivered 2017-crop cotton to the co-op, merchant

marketing pools, or into the CCC-loan program.

Producers inquired for 2018-crop contracts. No contracts

were signed.

Temperatures were mild and pleasant in the low-to-mid

70s for central Arizona. No rainfall was recorded in the

period. Ginning continued uninterrupted. Arizona

producers delivered an outstanding quality crop this

season. The Visalia Classing Office reported the season

average of color 31 and better, leaf 3 and better just over

96 percent, mike averaging 44.3, length averaging 36.96,

and strength averaging 31.52 for week ending January 18.

Temperatures were in the 50s and 60s for New Mexico

and El Paso, Texas for most of the week. Extreme cold

and strong winds plunged temperatures into the low to

mid-30s late week. Ginning continued. The El Paso

County Water Improvement District 1 plans to release

irrigation water from the Caballo Dam on March 16 for

April 1 delivery, with an initial water allocation of 3.5 acre

feet for agricultural water users. This is just shy of a full

allocation of 4.0 acre feet. Allocations could likely

increase if more rain and snow comes between now and

April. Producers considered spring planting options.

San Joaquin Valley (SJV) Spot cotton trading was inactive. Supplies were light.

Demand was moderate. Average local spot prices were

higher. Producers delivered 2017-crop cotton to the

co-op, merchant marketing pools, or into the CCC-loan

program. No forward contracting or domestic mill activity

was reported. Foreign mill inquiries were moderate.

Dense early morning fog was present for most of the

period. Rain and snow are in the near term forecast.

Ginning continued. The Visalia Classing Office reported

the season average Upland saw-ginned length at 37.04 for

week ending January 18 compared to 36.89 at this same

time last year. Strength averaged 33.76 compared to 33.94

the previous season. The season average Upland

roller-ginned length was 38.92 compared to 38.98 in 2017.

Strength averaged 36.04 compared to 36.30 last year.

Ginning continued. Producers considered spring planting

options. Fieldwork was on-going

American Pima (AP) Spot cotton trading was slow. Supplies and producer

offerings were light. Demand was moderate. Average

local spot prices were steady. No forward contracting or

domestic mill activity was reported. Producers inquired

for 2018-crop contracts. Foreign mill inquiries were light.

Temperatures were in the 70s for Arizona and 50s in

California. Seasonable temperatures dropped into the low

30s for New Mexico and El Paso, Texas late week as

frigid air worked its way through the region. No moisture

was reported for the Far West, although rain and snow

are in the near term forecast. Ginning continued

uninterrupted. The Visalia Classing Office reported the

season average AP length at 49.14 for week ending

January 18 compared to 48.84 at this same time last year.

Strength averaged 43.64 compared to 43.63 the previous

season.

Western Markets Regional Summary Maria Townsend Visalia, CA Maria.Townsend@ams.usda.gov

Trading

Desert Southwest

In Arizona, a heavy volume of color 11 and 21, leaf 1 and 2, staple 37 and longer, mike averaging 48.0, strength

averaging 32.5, and uniformity 80.8 sold for around 84.00 cents per pound, uncompressed FOB warehouse.

A moderate volume of mostly color 21 and better, leaf 2 and better, staple 37 and longer, mike 37-45, strength

averaging 31.5, and uniformity averaging 81.0 sold for around 82.50 cents, same terms as above.

A light volume of mostly color 21 and better, leaf 3 and better, staple 35-38, mike 35-49, strength averaging 32.3, and

uniformity averaging 81.5 sold for around 275 points off ICE March futures, same terms as above.

San Joaquin Valley

No trading activity was reported.

American Pima

A light volume of mostly color 1, leaf 1, staple 48 and longer, mike averaging 37.6, strength averaging 42.5, and

uniformity averaging 85.7 sold for around 142.75 cents per pound, uncompressed, FOB warehouse.

A light volume of mostly color 1, leaf 1, staple 48, mike averaging 35.4, strength averaging 43.2, and uniformity

averaging 85.1 sold for around 140.75 cents, same terms as above.

7

2017 Crop Quality

For complete Quality reports click here.

Source: USDA, AMS, Cotton and Tobacco Program

Region Classing Office Bales

Color

Grade

Leaf

Grade Trash Mike Staple Strength Uniformity

Number

of Gins

Southeast Florence 1,301,323 41 3 0.45 4.53 36.49 30.26 81.84 53

Macon 2,671,593 31 3 0.37 4.41 36.65 29.33 81.84 79

Memphis 240,152 41 4 0.55 4.17 37.57 30.20 82.04 14

Southeast 4,213,068 31 3 0.40 4.44 36.65 29.67 81.86 146

Southeast Quality Summary 2017-Crop

Region Classing Office Bales

Color

Grade

Leaf

Grade Trash Mike Staple Strength Uniformity

Number

Of Gins

South Central Dumas 1,277,089 31 4 0.49 4.37 37.87 31.67 81.90 41

Memphis 2,435,872 41 4 0.50 4.35 37.69 30.57 82.26 76

Rayville 431,218 31 3 0.43 4.53 37.10 31.30 81.47 19

South Central 4,144,179 31 4 0.49 4.37 37.69 30.98 82.07 136

South Central Quality Summary 2017-Crop

Region Classing Office Bales

Color

Grade

Leaf

Grade Trash Mike Staple Strength Uniformity

Number

Of Gins

Southwest Abilene 1,155,975 21 2 0.27 3.97 35.81 29.45 80.08 42

Corpus Christi 2,253,978 31 3 0.34 4.48 36.04 30.02 81.12 59

Lamesa 1,455,336 21 2 0.26 3.77 35.22 28.99 79.44 39

Lubbock 3,107,536 21 3 0.28 3.26 36.09 29.65 79.65 73

Southwest 7,988,771 21 3 0.29 3.80 35.88 29.60 80.09 214

Southwest Quality Summary 2017-Crop

Region Classing Office Bales

Color

Grade

Leaf

Grade Trash Mike Staple Strength Uniformity

Number

Of Gins

Far West Visalia 543,439 21 2 0.20 4.37 37.28 32.49 81.38 37

Far West 543,439 21 2 0.20 4.37 37.28 32.49 81.38 37

PIMA - Southwest Visalia 20,975 1 2 0.30 4.14 47.88 42.55 86.22 2

PIMA - Far West Visalia 548,612 1 2 0.26 4.14 49.20 43.69 86.23 23

Far West and American Pima Quality Summary 2017-Crop

16,889,457 31 3 0.36 4.12 36.56 30.05 81.06 533

569,587 1 2 0.26 4.14 49.15 43.65 86.23 25

United States Quality Summary 2017-CropUnited States Upland

United States Pima

8

Dec Dec Dec 29 Jan Jan

15-21 22-28 Jan 04 05-11 12-18

65.95 68.00 70.62 70.86 71.21

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00

0.45 0.42 0.33 0.35 0.36

0.60 0.57 0.48 0.50 0.51

1/ Color 41, leaf 4, staple 34, mike 35-36 & 43-49, strength readings of 26.0-28.9 grams per tex, length uniformity of 80.0-81.9 percent.

Source: Farm Service Agency, USDA.

Week Mkt. Year Week

- 4,760,000 -

222,500 4,197,600 289,900

- 8,957,600 -

352,100 - 328,300

5,600 - 53,300

346,500 - 275,100

31,700 602,300 104,600

Source: Export Sales Reporting Division, Foreign Agricultural Service, USDA.

NOTE: Data may not add due to rounding.

January 18, 2018

19-25

Fine count adjustment 2017 0.57

Marketing Years

2016-2017

7,518,100

3,808,000

Total export commitments

-

Sales next marketing year

Net sales of 275,100 running bales for 2017/2018 were unchanged from the previous week, but up 15 percent from the prior 4-week average.

Increases were reported for Indonesia (63,500 RB, including 1,200 RB switched from Japan and 400 RB switched from Thailand), India

(50,600 RB, including decreases of 1,300 RB), Turkey (43,200 RB, including decreases of 6,600 RB), Vietnam (42,700 RB, including 400 RB

switched from Japan), Mexico (13,000 RB), and Taiwan (12,800 RB). Reductions were reported for Japan (1,100 RB) and Peru (400 RB). For

2018/2019, net sales of 104,600 RB for Malaysia (35,200 RB), China (33,000 RB), Vietnam (29,900 RB), Mexico (9,700 RB), and South Korea

(6,300 RB) were offset by decreases for Japan (9,500 RB). Exports of 289,900 RB--a marketing-year high--were up 3 percent from the

previous week and 27 percent from the prior 4-week average. The primary destinations were China (100,000 RB), Vietnam (54,800 RB),

Indonesia (23,500 RB), Pakistan (21,300 RB), and Turkey (13,000 RB). Net sales of Pima totaling 11,100 RB for 2017/2018 were up 66 percent

from the previous week and 22 percent from the prior 4-week average. Increases were reported for India (3,200 RB, including decreases of

100 RB), Germany (2,600 RB), China (2,200 RB, switched from Hong Kong), and Vietnam (1,300 RB). Reductions were reported for Hong

Kong (900 RB). Exports of 13,000 RB were up 53 percent from the previous week, but down 4 percent from the prior 4-week average. The

primary destinations were China (4,300 RB), Pakistan (3,900 RB), India (1,800 RB), and Egypt (700 RB).

Optional Origin Sales: The current optional origin outstanding balance of 16,500 RB is for Indonesia.

Exports for Own Account: New exports for own account totaling 18,300 RB were reported to Vietnam (10,700 RB), Indonesia (6,300 RB), and

China (1,400 RB). Exports to Indonesia (6,000 RB), Vietnam (4,300 RB), and China (3,400 RB) were applied to new or outstanding sales. The

current outstanding balance of 67,400 RB is for Indonesia (35,700 RB), Vietnam (13,400 RB), Taiwan (11,600 RB), China (5,000 RB), India

(1,100 RB), Bangladesh (500 RB), and Pakistan (100 RB).

New sales -

Buy-backs and cancellations -

1,434,700

Net sales

Course count adjustment 0.00

11,326,100

Exports

Outstanding sales

Through January 12, 2017 Through January 11, 2018

Description

Mkt. Year

2017-2018

Loan Deficiency Payment (LDP) 0.00

World market prices for upland cotton, in cents per pound, in effect from 12:01 a.m., EDT, Friday through midnight, EDT, Thursday

Jan

Fine count adjustment 2016 0.42

Adjusted world price 1/ 74.45

2017-2018

9

Delivery Points

Stocks as of

1-18-2018

Awaiting

Review

Non-Rain

Grown Cotton

Dallas/FT. Worth, TX 357 0 0

Galveston, TX 22,798 0 0

Greenville, SC 37 0 0

Houston, TX 6,480 0 0

Memphis, TN 18,395 0 0

Total 48,067 0 0

Number of Bales in Certificated Stocks

31-3 41-4 51-5 42-4 31-3 41-4 51-5 42-4 31-3 41-4 51-5 42-4 21-2 31-3 41-4 51-5

82.63 81.13 77.63 78.88 80.63 78.88 74.38 77.13 80.63 78.88 74.38 77.13 76.88 76.13 71.63 69.88

84.38 83.13 78.63 80.38 82.38 81.63 76.38 77.88 82.38 81.63 76.38 77.88 79.13 78.38 77.88 70.38

85.88 85.13 79.13 80.38 83.38 81.63 76.88 78.63 83.38 81.63 76.88 78.63 83.38 81.88 78.13 72.13

87.38 85.38 79.38 80.63 85.63 82.88 77.13 78.63 85.63 82.88 77.13 78.88 84.23 83.48 78.23 72.38

21-2 31-3 41-4 42-4 21-2 31-3 41-4 42-4 21-2 31-3 41-4 32-3

74.75 74.00 72.50 71.50 74.00 72.00 70.25 69.50

75.25 74.75 74.00 72.50 75.00 73.75 72.25 71.25

77.00 76.75 75.00 73.25 77.00 75.75 73.00 72.25

79.25 78.25 77.75 76.75 77.25 76.50 76.25 74.25 82.78 81.28 78.63 78.13

80.50 79.50 77.75 76.75 79.25 78.25 76.25 75.00 89.03 87.53 80.63 80.63

82.00 80.75 78.75 77.50 79.75 79.25 77.25 76.75 92.53 91.03 81.43 81.38

82.25 81.25 79.00 77.50 80.25 79.75 77.50 76.75 94.03 92.28 81.53 81.88

82.50 81.50 81.50 77.50 80.50 80.00 80.00 76.75 96.28 94.03 81.53 82.88

SOUTH- NORTH SOUTH E. TX WEST DESERT SJ

EAST DELTA DELTA OK TEXAS SW VALLEY AVG.

-1150 -1825 -1350 -1442

-825 -1000 -1100 -1075 -1650 -1150 -1133

-425 -650 -750 -850 -1275 -1050 -1600 -943

-275 -325 -325 -600 -925 -650 -1000 -586

-150 -125 -125 -475 -700 -450 -500 -361

0 0 0 0 0 0 0 0

0 25 25 0 0 25 25 14

0 0 0 0 0 0 0 0

-200 -225 -225 -225 -225 -300 -500 -271

-375 -375 -375 -350 -350 -550 -396

SOUTH- NORTH SOUTH E. TX Grams WEST DESERT SJ SOUTH- NORTH SOUTH E. TX Unit WEST DESERT SJ

EAST DELTA DELTA OK per tex TEXAS SW VALLEY AVG. EAST DELTA DELTA OK TEXAS SW VALLEY AVG.

-250 19.0 - 19.9 -250 -250 -125 -90 -90 -90 77 & below -125 -100 -60 -97

-250 20.0 - 20.9 -250 -250 -110 -80 -80 -75 78 -95 -90 -50 -83

-425 -300 -275 -225 21.0 - 21.9 -225 -600 -342 -100 -70 -70 -60 79 -80 -80 -40 -71

-350 -250 -225 -200 22.0 - 22.9 -200 -450 -279 -25 0 0 0 80 0 0 0 -4

-300 -200 -200 -175 23.0 - 23.9 -175 -300 -225 0 0 0 0 Base 81 0 0 0 0

-250 -175 -175 -175 24.0 - 24.9 -175 -225 -500 -239 0 0 0 0 82 0 0 50 7

-200 -150 -150 -150 25.0 - 25.9 -150 -200 -400 -200 20 30 30 10 83 0 30 80 29

-25 -25 -25 -100 26.0 - 26.9 -100 -125 -300 -100 30 40 40 10 84 10 40 90 37

0 0 0 0 Base 27.0 - 28.9 0 0 0 0 40 50 50 20 85 20 50 100 47

0 0 0 0 29.0 - 29.9 0 0 0 0 50 60 60 30 86 & above 30 60 110 57

25 25 25 25 30.0 - 30.9 25 25 75 32

50 50 50 25 31.0 - 32.9 25 50 125 54

50 50 50 25 33.0 & above 25 100 250 79

January 18, 2018

36

34

SOUTH DELTA

37

38

32

33

STRENGTH DIFFERENCES UNIFORMITY DIFFERENCES

Base 43-49

50-52

37-42

25-26

27-29

33-34

MIKE DIFFERENCES - POINTS PER POUND

53 & Above

EAST TEXAS-OKLAHOMA WEST TEXAS

DESERT SOUTHWEST

34

33

Staple

36

Base 35-36

Staple

24 & Below

SAN JOAQUIN VALLEY

35

Mike Ranges

30-32

Spot quotations are in cents per pound for cotton equal to the Official Standards, net weight, in mixed lots, compressed, FOB car/truck.

26-31

35

SOUTHEAST NORTH DELTA

10

Leaf

44 46 48

1 139.00 147.75 150.25

2 138.75 147.50 150.00

3 131.00 138.75 140.25

4

5

6

1 138.75 147.50 150.00

2 138.50 147.25 149.75

3 130.75 138.50 140.00

4 120.75 129.00 130.50

5

6

1 128.50 136.25 137.75

2 126.00 133.75 135.25

3 124.75 132.50 134.00

4 115.75 123.50 125.00

5 99.75 107.00 108.50

6

1 109.50 117.25 119.50

2 109.25 117.00 118.75

3 109.00 116.75 118.00

4 104.00 111.75 113.00

5 92.75 100.50 101.75

6

1

2 88.50 98.50 99.75

3 88.50 98.00 99.75

4 88.50 92.50 93.75

5 88.25 92.25 93.50

6

1

2 80.75 83.75 85.00

3 80.75 83.75 85.00

4 80.75 83.75 85.00

5 80.50 83.50 84.75

6 80.00 83.00 84.25

January 18, 2018

6

American Pima quotations are for cotton equal to the Official Standards, net weight, in mixed lots, UD Free, FOB warehouse. 1/

AMERICAN PIMA SPOT QUOTATIONS

Color Staple

1

2

2

-1035

3

4

2 -1095

Other

-810

35.5-36.4

30-32 -900

1 -715

0

1/ Pima spot quotations for color-leaf-staple combinations not quoted will be included as sales of those qualities which are reported.

5

Level Diff.

Prep

1

Extraneous Matter

36.5-37.4

37.5 & Above

-1350

-1100

-850

Range Diff.

(Grams per Tex)

Range Diff.

The current Pima spot quotations

represent prices from local sales,

export sales, and offerings last

reported on December 22, 2017.

Mike

Strength

-1400

26 & Below -1900

27-29

33-34 -400

35.4 & Below

35 & Above 0