Week Ending: Dec. 13, 2018 Market Page 1. Thurs. Close Last Thurs. Close Weekly Change Week's High Week's Low Life of Contract High Life of Contract Low NEW YORK COTTON FUTURES (Cents/Lb.) March-19 79.41 79.08 0.33 80.93 78.80 94.50 62.00 May-19 80.43 80.26 0.17 81.91 79.98 94.25 64.53 July-19 81.02 81.12-0.10 82.55 80.70 94.00 65.82 October-19 78.10 78.28-0.18 78.81 78.10 88.16 66.52 December-19 77.43 77.48-0.05 78.35 77.19 84.50 65.57 March-20 78.09 78.17-0.08 78.85 78.03 84.04 65.77 May-20 78.61 78.71-0.10 79.40 78.61 83.51 65.77 July-20 78.85 78.95-0.10 79.41 78.85 83.26 65.77 October-20 75.62 75.72-0.10 76.18 75.62 81.18 67.81 CHICAGO CORN FUTURES (Cents/Bu.) March-19 384.25 382.75 1.50 387.75 381.25 437.00 354.75 May-19 391.75 390.00 1.75 395.00 388.75 441.25 363.25 July-19 398.25 396.25 2.00 401.00 395.00 445.00 370.00 September-19 399.75 396.75 3.00 401.75 396.25 426.75 375.75 December-19 403.75 401.25 2.50 405.25 400.50 424.00 383.25 CHICAGO SOYBEAN FUTURES (Cents/Bu.) January-19 907.00 909.50-2.50 928.00 905.25 1063.25 826.25 March-19 920.50 922.00-1.50 941.00 918.25 1054.50 839.75 May-19 933.25 934.50-1.25 953.00 931.00 1051.75 853.00 July-19 945.00 946.25-1.25 964.25 942.50 1051.75 863.25 August-19 949.25 950.25-1.00 968.00 947.75 1040.25 868.25 September-19 950.50 950.50 0.00 967.75 948.50 1025.25 864.75 November-19 956.00 954.50 1.50 971.00 952.00 1015.00 864.75 WORLD MARKET (Cents/Lb.) CHINA WEEKLY PRICES (Cents/Lb.) Effective Dec 14-20, '18 Week Ending December 13, 2018 This Week Year Ago % Change Current Forward A (Far East) 88.11 84.10 5% AWP 69.77 NA CnCotton A 105.17 111.00-5% 5 Lowest Far East Quotes 87.01 NA Polyester 58.59 60.72-3% USFE Low Quote 88.35 NA Source: A (FE) - Cotton Outlook; Other - China Cotton Website USFE-5 Lowest Far East Quotes 1.34 NA Fine Count CFR Far East 88.43 NA MY AVG. FARM PRICE U.S. WEEKLY SPOT PRICES (Cents/Lb.) Course Count CFR Far East 86.68 NA Upland Cotton (Cents/Lb.) Fine Count Adj ('17 Crop) 0.73 NA 18/19 YTD (Aug - Oct) 71.8 Week Ending December 13, 2018 Fine Count Adj ('18 Crop) 0.78 NA 17/18 ** 68.6 Coarse Count Adj 0.00 NA 18/19 Proj.** 71.0-77.0 This Week Year Ago Open Quotas 13 NA 3135 78.82 74.85 LDP 0.00 NA Cottonseed 4134 75.37 71.72 ELS Comp Pymnt 0.00 NA ($/Ton) (Cents/Lb.) 17/18 ** 142 7.1 18/19 Proj.** 121-161 6.1-8.1 **16/17 and 17/18 projections by USDA.
Week Ending: Dec. 13, 2018 Market Page 2. CCC LOAN STOCKS (Includes '17 & '18 Crop) U.S. COTTON EXPORTS (Thou. 480-lb. Bales) As of December 10, 2018 Week Ending December 6, 2018 Form A Form G Total Upland (Running Bales) Week Total Total Week Total Southeast 869 309,586 310,455 18/19 18/19 17/18 19/20 19/20 Mid-South 476,251 1,766,165 2,242,416 Sales 59.7 10,578.9 10,853.0 34.5 2,146.2 Southwest 105 502,714 502,819 Shipments 171.2 3,048.3 2,812.9 0.0 0.0 West 229 83,450 83,679 U.S. 477,454 2,661,915 3,139,369 TOP 10 CUSTOMERS OF U.S. RAW COTTON (Thou. 480-Lb. Bales) ELS U.S. 12,820 100,757 113,577 Country 18/19 18Share 19/20 19Share VIETNAM 2,392 23% 15 1% CCC LOAN INTEREST RATES CHINA 1,664 16% 1,018 47% Borrowing Rate Interest Rate* MEXICO 1,048 10% 341 16% November 2.625% 3.625% INDONESIA 1,019 10% 23 1% December 2.750% 3.750% PAKISTAN 822 8% 361 17% BANGLADESH 761 7% 41 2% THAILAND 436 4% 66 3% * Interest rate for crop year commodity loans less than one year. TURKEY 433 4% 5 0% KOREAN REPUBLIC 369 3% 32 1% CERTIFICATED STOCKS (Running Bales) INDIA 275 3% 39 2% TOTAL 10,579 0% 2,146 0% Stocks Review CFTC DISAGGREGATED COMMITMENTS OF TRADERS Dallas/Ft. W - - Options and Futures Combined Galveston - - As of December 11, 2018 Greenville - - Houston - - Total Open Commercial Swap Dealers Memphis - - Interest Net Position Net Position Total 269,799 (110,253) 56,351 TOTAL - - Weekly Change (1,049) (3,380) 1,651 Non Commercial Net Position 53,903 1,729 ON-CALL COTTON (100 Bale Contracts) As of December 7, 2018 STATE OF THE ECONOMY Week Ending December 13, 2018 Thursday Last % Change Call Week's Call Week's Settlement Thurs. YTD Contract Sales Change Purch. Change Dow Jones Ind. Avg. 24,597 24,948 0% S&P 500 2,651 2,696-1% December '18 0 0 0 0 10-Yr Treas. Bond Rate 2.910% 2.873% 21% March '19 41,574-1,527 14,985-180 NASDAQ Composite 7,070 7,188 2% May '19 21,167 252 2,104 24 Russell 2000 1,433 1,477-7% July '19 31,928 1,039 2,563 304 October '19 0 0 0 0 Japanese Nikkei Stock Avg 21,816 21,502-4% December '19 16,736 218 18,326 422 Hong Kong Hang Seng 26,524 26,156-11% March '20 6,136 282 214 0 Singapore Straits Times 3,111 3,116-9% May '20 2,422 61 0 0 Shanghai Composite 2,634 2,605-20% July '20 2,519 93 0 0 December '20 1,254 0 2,887 376 Euro (in U.S.$) 1.14 1.14-5% Japanese Yen (per U.S.$) 113.60 112.67 1% WTx Int Crude Oil ($/barrel) 51.07 53.21-16% Diesel, Ultra-low ($/gal) 1.85 1.89-11% * Indicates changes from previous week based on revised data for last week. Natural Gas ($/million btu) 4.54 4.40 23%
Week Ending: COTTON SUPPLY AND DEMAND (Million 480-lb. Bales) Estimates for December 2018 US World Dec. 13, 2018 Market Page 3. U.S. COTTON TEXTILE TRADE YTD_Oct18 YTD_Oct17 (Million 480-lb. Bale Equiv.) 17/18 18/19p 16/17 17/18p Imports 15.78 15.13 Beginning Stocks 2.8 4.3 80.4 80.5 Exports 2.91 2.99 Production 20.9 18.6 123.7 118.7 Imports 0.0 0.0 41.0 41.7 US COTTONSEED SUPPLY AND DISAPPEARANCE Total Supply 23.7 22.9 245.1 240.9 (000 Short Tons) Mill Use 3.2 3.3 123.2 125.6 Marketing Year Exports 15.9 15.0 41.0 41.7 17/18 18/19 Total Use 19.1 18.3 164.2 167.4 Beg. Stocks 400 450 Ending Stocks 4.3 4.4 80.5 73.2 Production 6,422 5,858 Stocks/Use Ratio 22.5% 24.0% 65.3% 58.3% Imports 0 0 *17/18 estimates by USDA, 18/19 projections by USDA. Total Supply 6,822 6,308 Crush 1,854 1,800 U.S. COTTON PLANTINGS, PRODUCTION, AND YIELD Exports 478 425 2018 2018 Other 4,040 3,683 Production 480-2018 Yield 2017 Actual Estimated Total Demand 6,372 5,908 Lb. Bales per Harv. Acreage Plantings End. Stocks 450 400 (Thou.) 1/ Acre (Lb.) 1/ (Thou.) 1/ (Thou.) 2/ Change UPLAND USDA-ERS December Oil Crops Outlook. SOUTHEAST 4,225 758 2,523 2,886 14.4% Alabama 865 883 435 510 17.2% US COTTONSEED MEAL SUPPLY AND DISAPPEARANCE Florida 125 750 99 118 19.2% (000 Short Tons) Georgia 1,900 676 1,280 1,430 11.7% Marketing Year North Carolina 690 828 375 430 14.7% 17/18 18/19 South Carolina 450 771 250 300 20.0% Beg. Stocks 28 40 Virginia 195 965 84 98 16.7% Production 845 810 MID-SOUTH 4,665 1,142 1,945 1,985 2.1% Imports 0 0 Arkansas 1,160 1,160 445 485 9.0% Total Supply 873 850 Louisiana 410 1,036 220 195-11.4% Consumption 713 700 Mississippi 1,480 1,155 630 620-1.6% Exports 119 110 Missouri 850 1,275 305 325 6.6% Demand 833 810 Tennessee 765 1,034 345 360 4.3% End. Stocks 40 40 SOUTHWEST 8,142 747 7,578 8,645 14.1% Kansas 342 1,032 93 165 77.4% USDA-ERS December Oil Crops Outlook. Oklahoma 800 674 585 780 33.3% Texas 7,000 747 6,900 7,700 11.6% US COTTONSEED OIL SUPPLY AND DISAPPEARANCE WEST 785 1,433 314 278-11.5% (Million Pounds) Arizona 450 1,450 160 150-6.3% Marketing Year California 195 1,910 88 50-43.2% 17/18 18/19 New Mexico 140 1,034 66 78 18.2% Beg. Stocks 44 32 TOTAL UPLAND 17,817 844 12,360 13,794 11.6% Production 561 560 TOTAL ELS 771 1,508 253 248-1.8% Imports 0 1 Arizona 25 889 15 14-6.7% Total Supply 606 593 California 701 1,610 216 210-2.8% Domestic Consumption 463 461 New Mexico 13 904 8 7-6.7% Exports 111 100 Texas 32 960 14 17 21.4% Total Demand 574 561 ALL COTTON 18,588 860 12,613 14,042 11.3% End. Stocks 32 32 1/ USDA-NASS December Crop Production Report. 2/ Revised from USDA-NASS June Acreage Report. USDA-ERS December Oil Crops Outlook.
Week Ending: Dec. 13, 2018 GINNINGS REPORT Market Page 4. As of December 1, 2018 (Running Bales) 2017 2018 UPLAND SOUTHEAST 2,699,900 2,408,850 Alabama 433,750 487,200 Florida 64,300 1/ Georgia 1,336,450 1,056,600 North Carolina 521,800 530,050 South Carolina 236,250 208,800 Virginia 107,350 126,200 MID-SOUTH 3,398,050 3,698,100 Arkansas 891,300 996,950 Louisiana 368,700 357,100 Mississippi 999,250 1,050,600 Missouri 546,950 624,700 Tennessee 591,850 668,750 SOUTHWEST 4,568,150 3,576,000 Kansas 1/ 1/ Oklahoma 173,700 135,900 Texas 4,394,450 3,440,100 WEST 285,300 194,400 Arizona 158,250 107,450 California 127,050 86,950 New Mexico 1/ 1/ TOTAL UPLAND 10,984,900 9,941,250 TOTAL ELS 301,900 323,700 Arizona 10,550 11,450 California 277,200 298,900 New Mexico 1/ 1/ Texas 1/ 1/ ALL COTTON 11,286,800 10,264,950 Note: Regions may not add to total to avoid disclosure of individual gins. 1/ Not published to avoid disclosing individual gins, but included in U.S. totals.
For The Week Ending December 13, 2018 Quality Page 1. SAMPLES CLASSED COLOR GRADE % 31 or Better % 41 or Better Classing Office Week Tenderable Season Tenderable Week Season Week Season Abilene 81,346 77.5 392,056 77.1 48.6 43.5 87.8 85.2 Corpus Christi 28,108 35.6 1,673,673 56.3 2.8 50.9 10.5 61.5 Dumas 82,167 74.6 1,210,755 78.7 16.4 24.8 82.1 87.2 Florence 96,497 84.4 1,020,622 78.0 22.0 25.7 82.7 80.0 Lamesa 78,228 74.1 425,755 76.9 66.4 55.6 90.3 89.2 Lubbock 317,350 74.5 1,701,873 73.9 68.9 53.7 92.9 89.7 Macon 175,725 68.0 1,637,567 77.8 13.3 43.8 78.3 85.2 Memphis 183,095 71.4 2,653,637 61.5 7.5 11.3 68.4 64.8 Rayville 24,572 48.0 446,600 56.6 14.0 27.0 52.9 69.0 Visalia 51,953 79.2 260,638 81.6 63.1 65.9 90.4 88.3 Region Southeast 272,222 73.8 2,658,189 77.9 16.4 36.9 79.9 83.2 Mid-South 289,834 70.3 4,310,992 65.8 10.6 16.7 71.0 71.5 Southwest 505,032 72.8 4,193,357 67.5 61.6 51.8 87.1 78.0 West 51,953 79.2 260,638 81.6 63.1 65.9 90.4 88.3 United States 1,119,041 70.0 11,423,176 67.4 37.4 35.4 81.3 77.0 STAPLE AND STRENGTH MICRONAIRE AND HVI TRASH Average Staple Average Strength Average Mike Average HVI Trash Classing Office Week Season Week Season Week Season Week Season Abilene 36.3 36.4 30.3 30.3 43.0 43.0 0.4 0.4 Corpus Christi 35.5 35.9 27.7 29.6 46.0 47.0 0.5 0.4 Dumas 37.3 37.4 30.0 30.1 47.0 47.0 0.5 0.5 Florence 36.1 36.5 29.4 29.7 45.0 45.0 0.5 0.5 Lamesa 36.0 36.1 30.3 30.2 40.0 42.0 0.4 0.4 Lubbock 36.1 36.3 31.0 31.2 41.0 42.0 0.4 0.5 Macon 36.7 36.8 29.1 28.9 43.0 42.0 0.5 0.5 Memphis 37.0 37.1 29.5 29.7 46.0 47.0 0.5 0.5 Rayville 36.5 37.0 29.7 30.2 48.0 48.0 0.4 0.4 Visalia 37.6 37.6 32.3 32.5 46.0 45.0 0.3 0.3 Region Southeast 36.5 36.7 29.2 29.2 43.7 43.2 0.5 0.5 Mid-South 37.0 37.2 29.7 29.9 46.5 47.1 0.5 0.5 Southwest 36.1 36.1 30.6 30.4 41.4 44.1 0.4 0.4 West 37.6 37.6 32.3 32.5 46.0 45.0 0.3 0.3 United States 36.5 36.7 30.1 30.0 43.5 45.0 0.4 0.4 UNIFORMITY Average Uniformity Classing Average Uniformity Prepared by Economic Services Classing Office Week Season Office Week Season of the National Cotton Council. Abilene 80.3 80.6 Rayville 80.4 80.8 You may contact us by mail at Corpus Christi 79.3 81.0 Visalia 81.9 82.0 7193 Goodlett Farms Parkway Dumas 80.9 81.2 Region Cordova, TN 38016 ; Florence 80.5 80.7 Southeast 80.9 80.9 by phone (901)274-9030. Lamesa 80.6 80.7 Mid-South 81.2 81.6 Lubbock 80.9 81.2 Southwest 80.7 81.0 Macon 81.1 81.0 West 81.9 82.0 Memphis 81.5 81.9 United States 80.9 81.2
For The Week Ending December 13, 2018 Quality Page 2. SAMPLES CLASSED COLOR GRADE % 31 or Better % 41 or Better State Week Tenderable Season Tenderable Week Season Week Season Alabama 57,011 66.9 568,279 64.1 13.9 24.5 76.7 71.7 Arizona 33,012 71.1 135,365 73.9 47.8 42.7 85.6 81.2 Arkansas 60,803 76.0 1,084,595 71.1 6.7 9.1 64.6 67.6 California 14,714 92.9 106,025 90.5 97.6 95.2 98.7 95.7 Florida 6,092 56.0 51,361 63.1 8.7 9.2 60.6 68.6 Georgia 137,933 69.2 1,251,409 80.9 12.7 48.7 79.2 87.2 Kansas 6,493 45.1 30,206 52.5 32.4 42.6 72.7 71.1 Louisiana 17,310 45.3 380,024 57.3 18.2 29.4 63.8 73.4 Mississippi 87,986 72.9 1,165,221 76.8 15.9 26.0 79.8 85.5 Missouri 50,298 74.5 683,864 68.5 8.2 13.0 78.9 77.9 New Mexico 3,068 91.6 15,045 92.7 64.4 67.7 98.7 98.6 North Carolina 52,242 82.9 615,089 76.0 22.4 24.6 84.8 79.5 Oklahoma 32,957 84.5 183,926 82.4 42.6 41.6 93.7 88.8 South Carolina 29,099 83.6 255,694 80.9 16.1 23.3 72.9 78.6 Tennessee 42,719 65.4 721,703 46.2 5.9 10.7 59.7 53.6 Texas 472,148 72.1 4,025,531 66.7 62.6 52.0 86.1 77.1 Virginia 15,156 91.1 149,839 80.9 31.8 34.3 93.8 84.4 United States 1,119,041 70.0 11,423,176 67.4 37.4 36.7 79.2 80.5 STAPLE AND STRENGTH MICRONAIRE AND HVI TRASH Average Staple Average Strength Average Mike Average HVI Trash State Week Season Week Season Week Season Week Season Alabama 36.8 36.8 29.2 29.0 43.0 44.0 0.5 0.5 Arizona 37.4 37.2 31.4 31.1 47.0 46.0 0.3 0.3 Arkansas 37.4 37.6 29.8 29.9 46.0 46.0 0.5 0.5 California 38.0 38.1 34.7 34.6 44.0 44.0 0.2 0.2 Florida 37.2 37.5 28.7 28.5 45.0 45.0 0.5 0.5 Georgia 36.7 36.8 29.1 29.0 42.0 42.0 0.5 0.4 Kansas 36.1 36.3 29.8 29.5 38.0 38.0 0.5 0.5 Louisiana 37.0 37.2 30.2 30.4 48.0 48.0 0.4 0.4 Mississippi 37.2 37.3 29.8 30.0 47.0 47.0 0.5 0.5 Missouri 37.5 37.5 29.9 30.0 47.0 47.0 0.5 0.5 New Mexico 38.0 37.9 30.8 30.4 42.0 42.0 0.3 0.3 North Carolina 36.2 36.5 29.8 30.0 45.0 46.0 0.5 0.5 Oklahoma 36.5 36.6 30.7 30.7 44.0 44.0 0.4 0.4 South Carolina 36.3 36.8 28.6 29.2 44.0 44.0 0.5 0.5 Tennessee 36.3 36.5 29.0 29.4 47.0 48.0 0.5 0.4 Texas 36.1 36.1 30.6 30.3 41.0 44.0 0.4 0.4 Virginia 35.7 36.0 29.3 29.2 47.0 47.0 0.4 0.4 United States 36.5 37.0 30.0 30.2 43.2 44.9 0.5 0.4 UNIFORMITY Average Uniformity Average Uniformity Prepared by Economic Services State Week Season State Week Season of the National Cotton Council. Alabama 81.0 81.0 Missouri 82.0 82.3 You may contact us by mail at Arizona 81.5 81.4 New Mexico 82.3 82.2 7193 Goodlett Farms Parkway Arkansas 81.5 81.8 North Carolina 80.7 80.9 Cordova, TN 38016 ; California 82.9 82.7 Oklahoma 80.8 81.0 by phone (901)274-9030. Florida 80.7 80.6 South Carolina 80.1 80.5 Georgia 81.2 81.1 Tennessee 81.1 81.6 Kansas 80.5 80.5 Texas 80.7 81.0 Louisiana 80.7 81.0 Virginia 80.4 80.6 Mississippi 80.9 81.1 United States 80.9 81.3