Week Ending: Mar. 28, 2019 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.) May-19 75.87 77.18-1.31 77.98 75.52 94.25 64.53 July-19 76.88 78.03-1.15 78.87 76.53 94.00 65.82 October-19 75.28 75.92-0.64 76.50 75.28 88.16 66.52 December-19 74.84 75.33-0.49 75.97 74.45 84.50 65.57 March-20 75.60 76.05-0.45 76.68 75.25 84.04 65.77 May-20 75.82 76.32-0.50 76.91 75.80 83.51 65.77 July-20 75.87 76.42-0.55 76.94 75.70 83.26 65.77 October-20 73.24 74.37-1.13 74.85 73.24 81.18 67.81 December-20 71.00 72.82-1.82 73.30 71.00 80.02 70.85 CHICAGO CORN FUTURES (Cents/Bu.) May-19 374.00 376.25-2.25 380.75 372.00 441.25 361.00 July-19 383.75 385.50-1.75 390.00 381.50 445.00 370.00 September-19 391.00 391.75-0.75 396.00 388.50 426.75 375.75 December-19 398.25 398.75-0.50 402.50 396.00 424.00 383.25 March-20 408.50 409.00-0.50 412.50 406.25 432.00 395.00 CHICAGO SOYBEAN FUTURES (Cents/Bu.) May-19 889.50 910.50-21.00 912.00 886.00 1051.75 853.00 July-19 903.00 924.25-21.25 925.50 899.50 1051.75 863.25 August-19 909.00 930.25-21.25 931.75 906.00 1040.25 868.25 September-19 914.50 935.25-20.75 936.50 911.50 1025.25 864.75 November-19 923.75 944.75-21.00 946.25 920.75 1015.00 864.75 January-20 932.50 953.00-20.50 954.25 929.25 1013.75 874.75 March-20 937.00 958.75-21.75 959.75 934.00 1014.25 882.00 WORLD MARKET (Cents/Lb.) CHINA WEEKLY PRICES (Cents/Lb.) Effective Mar 29 - Apr 4, '19 Week Ending March 28, 2019 This Week Year Ago % Change Current Forward A (Far East) 86.57 90.98-5% AWP 68.23 NA CnCotton A 108.30 116.28-7% 5 Lowest Far East Quotes 85.47 NA Polyester 58.91 63.60-7% USFE Low Quote 85.95 NA Source: A (FE) - Cotton Outlook; Other - China Cotton Website USFE-5 Lowest Far East Quotes 0.48 NA Fine Count CFR Far East 87.10 NA MY AVG. FARM PRICE U.S. WEEKLY SPOT PRICES (Cents/Lb.) Coarse Count CFR Far East 82.20 NA Upland Cotton (Cents/Lb.) Fine Count Adj ('17 Crop) 0.52 NA 18/19 YTD (Aug - Feb) 70.2 Week Ending March 28, 2019 Fine Count Adj ('18 Crop) 0.57 NA 17/18 ** 68.6 Coarse Count Adj 0.00 NA 18/19 Proj.** 69.0-71.0 This Week Year Ago Open Quotas 9 NA 3135 74.88 81.54 LDP 0.00 NA Cottonseed 4134 71.46 78.34 ELS Comp Pymnt 0.00 NA ($/Ton) (Cents/Lb.) 17/18 ** 142 7.1 18/19 Proj.** 135-175 6.8-8.8 **16/17 and 17/18 projections by USDA.
Week Ending: Mar. 28, 2019 Market Page 2. CCC LOAN STOCKS (Includes '17 & '18 Crop) U.S. COTTON EXPORTS (Thou. 480-lb. Bales) As of March 25, 2019 Week Ending March 21, 2019 Form A Form G Total Upland (Running Bales) Week Total Total Week Total Southeast 21,748 720,466 742,214 18/19 18/19 17/18 19/20 19/20 Mid-South 477,133 1,425,821 1,902,954 Sales 257.8 13,576.0 15,508.8 182.4 2,655.0 Southwest 7,788 1,040,405 1,048,193 Shipments 399.9 7,303.9 8,137.8 0.0 0.0 West 257 126,632 126,889 U.S. 506,926 3,313,324 3,820,250 TOP 10 CUSTOMERS OF U.S. RAW COTTON (Thou. 480-Lb. Bales) ELS U.S. 15,775 126,362 142,137 Country 18/19 18Share 19/20 19Share VIETNAM 3,129 23% 28 1% CCC LOAN INTEREST RATES CHINA 1,766 13% 1,210 46% Borrowing Rate Interest Rate* PAKISTAN 1,323 10% 372 14% February 2.625% 3.625% INDONESIA 1,244 9% 39 1% March 2.625% 3.625% TURKEY 1,124 8% 5 0% MEXICO 1,075 8% 384 14% BANGLADESH 845 6% 179 7% * Interest rate for crop year commodity loans less than one year. INDIA 560 4% 43 2% THAILAND 518 4% 96 4% CERTIFICATED STOCKS (Running Bales) KOREAN REPUBLIC 430 3% 43 2% TOTAL 13,576 0% 2,655 0% Stocks Review CFTC DISAGGREGATED COMMITMENTS OF TRADERS Dallas/Ft. W - - Options and Futures Combined Galveston - - As of March 26, 2019 Greenville - - Houston - - Total Open Commercial Swap Dealers Memphis - - Interest Net Position Net Position Total 281,395 (69,485) 47,650 TOTAL - - Weekly Change 8,749 (10,592) (2,026) Non Commercial Net Position 21,834 12,617 ON-CALL COTTON (100 Bale Contracts) As of March 22, 2019 STATE OF THE ECONOMY Week Ending March 28, 2019 Thursday Last % Change Call Week's Call Week's Settlement Thurs. YTD Contract Sales Change Purch. Change Dow Jones Ind. Avg. 25,717 25,963 10% S&P 500 2,815 2,855 12% May '19 22,227 162 9,741-2,304 10-Yr Treas. Bond Rate 2.388% 2.534% -11% July '19 31,864 2,653 4,560 37 NASDAQ Composite 7,669 7,839 16% October '19 0 0 0 0 Russell 2000 1,535 1,562 11% December '19 25,863 732 28,501 2,155 March '20 11,377 894 1,472 220 Japanese Nikkei Stock Avg 21,034 21,609 5% May '20 4,261 348 197 0 Hong Kong Hang Seng 28,775 29,072 11% July '20 4,660 242 18 0 Singapore Straits Times 3,204 3,214 4% December '20 5,309 154 6,799 683 Shanghai Composite 2,995 3,101 20% March '21 815 66 309 0 Euro (in U.S.$) 1.12 1.14-2% Japanese Yen (per U.S.$) 110.63 110.81 2% WTx Int Crude Oil ($/barrel) 58.71 59.09 NA Diesel, Ultra-low ($/gal) 1.98 1.96 NA * Indicates changes from previous week based on revised data for last week. Natural Gas ($/million btu) 2.72 2.90 NA
Week Ending: Mar. 28, 2019 Market Page 3. COTTON SUPPLY AND DEMAND (Million 480-lb. Bales) U.S. COTTON TEXTILE TRADE Estimates for March 2019 YTD_Dec18 YTD_Dec17 US World (Million 480-lb. Bale Equiv.) 18/19 19/20p 18/19 19/20p Imports 18.73 17.98 Beginning Stocks 4.3 4.3 81.1 76.1 Exports 3.41 3.54 Production 18.4 22.5 118.9 126.5 Imports 0.0 0.0 42.2 45.0 US COTTONSEED SUPPLY AND DISAPPEARANCE Total Supply 22.7 26.8 242.2 247.6 (000 Short Tons) Mill Use 3.2 3.3 123.6 125.5 Marketing Year Exports 15.0 17.0 42.2 45.0 17/18 18/19 Total Use 18.2 20.3 165.8 170.5 Beg. Stocks 400 450 Ending Stocks 4.3 6.3 76.1 77.1 Production 6,422 5,794 Stocks/Use Ratio 23.6% 31.0% 61.6% 61.4% Imports 0 0 *18/19 estimates by USDA, 19/20 projections from USDA 2019 Ag Outlook Forum. Total Supply 6,822 6,244 Crush 1,854 1,900 U.S. COTTON PLANTINGS, PRODUCTION, AND YIELD Exports 478 425 2018 2019 Other 4,040 3,599 Production 480-2018 Yield 2018 Actual Estimated Total Demand 6,372 5,924 Lb. Bales per Harv. Acreage Plantings End. Stocks 450 320 (Thou.) 1/ Acre (Lb.) 1/ (Thou.) 1/ (Thou.) 1/ Change UPLAND USDA-ERS March Oil Crops Outlook. SOUTHEAST 4,265 748 2,885 2,810-2.6% Alabama 860 826 510 510 0.0% US COTTONSEED MEAL SUPPLY AND DISAPPEARANCE Florida 120 640 117 90-23.1% (000 Short Tons) Georgia 1,950 693 1,430 1,350-5.6% Marketing Year North Carolina 700 820 430 470 9.3% 17/18 18/19 South Carolina 440 728 300 290-3.3% Beg. Stocks 28 45 Virginia 195 965 98 100 2.0% Production 845 855 MID-SOUTH 4,605 1,125 1,985 2,260 13.9% Imports 0 0 Arkansas 1,150 1,150 485 580 19.6% Total Supply 873 900 Louisiana 410 1,025 195 260 33.3% Consumption 708 750 Mississippi 1,430 1,116 620 680 9.7% Exports 119 110 Missouri 835 1,245 325 380 16.9% Demand 828 860 Tennessee 780 1,055 360 360 0.0% End. Stocks 45 40 SOUTHWEST 7,992 721 8,695 8,190-5.8% Kansas 342 1,066 165 170 3.0% USDA-ERS March Oil Crops Outlook. Oklahoma 750 637 780 720-7.7% Texas 6,900 720 7,750 7,300-5.8% US COTTONSEED OIL SUPPLY AND DISAPPEARANCE WEST 734 1,340 285 265-7.0% (Million Pounds) Arizona 440 1,328 160 155-3.1% Marketing Year California 184 1,879 48 40-16.7% 17/18 18/19 New Mexico 110 926 77 70-9.1% Beg. Stocks 44 32 TOTAL UPLAND 17,596 821 13,850 13,525-2.3% Production 561 590 TOTAL ELS 794 1,540 249 255 2.4% Imports 0 1 Arizona 29 994 14 8-42.9% Total Supply 605 623 California 718 1,649 210 225 7.1% Domestic Consumption 461 476 New Mexico 12 823 7 8 14.3% Exports 112 115 Texas 35 960 18 14-22.2% Total Demand 573 591 ALL COTTON 18,390 838 14,099 13,780-2.3% End. Stocks 32 32 1/ USDA-NASS. *NCC's Planting Intentions survey indicated 14.2 million acres of upland and 264,000 acres USDA-ERS March Oil Crops Outlook. of ELS cotton for 2019.
Week Ending: Mar. 28, 2019 GINNINGS REPORT Market Page 4. As of March 1, 2019 (Running Bales) 2017 2018 UPLAND SOUTHEAST 4,430,450 4,005,150 Alabama 769,900 805,500 Florida 119,050 1/ Georgia 2,191,000 1,948,200 North Carolina 763,300 703,500 South Carolina 405,200 363,550 Virginia 182,000 184,400 MID-SOUTH 4,217,550 4,580,700 Arkansas 1,123,850 1,249,500 Louisiana 407,750 414,700 Mississippi 1,284,400 1,399,100 Missouri 683,000 754,850 Tennessee 718,550 762,550 SOUTHWEST 9,409,300 7,474,600 Kansas 1/ 141,800 Oklahoma 603,000 541,800 Texas 8,806,300 6,791,000 WEST 676,850 565,150 Arizona 438,350 376,600 California 238,500 188,550 New Mexico 1/ 1/ TOTAL UPLAND 18,883,150 16,710,550 TOTAL ELS 673,800 760,600 Arizona 26,700 28,350 California 609,150 688,600 New Mexico 1/ 1/ Texas 1/ 1/ ALL COTTON 19,556,950 17,471,150 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 March 28, 2019 Quality Page 1. SAMPLES CLASSED COLOR GRADE % 31 or Better % 41 or Better Classing Office Week Tenderable Season Tenderable Week Season Week Season Abilene 24,227 33.4 1,293,273 65.4 27.2 46.8 56.9 79.8 Corpus Christi 3,927 13.7 1,802,825 53.9 0.1 47.4 6.3 57.6 Dumas - - 1,393,267 77.3-23.1-85.9 Florence - - 1,251,460 77.5-23.5-78.0 Lamesa - - 885,442 66.6-58.3-80.5 Lubbock 5,367 29.3 3,397,114 69.2 41.3 60.5 87.0 88.2 Macon - - 2,546,069 71.3-31.1-73.5 Memphis - - 3,056,346 62.0-10.8-64.8 Rayville - - 543,741 52.8-24.2-65.4 Visalia 3,498 58.3 648,577 79.1 20.1 62.3 67.4 88.4 Region Southeast - - 3,797,529 73.3-28.6-75.0 Mid-South - - 4,993,354 65.3-15.7-70.8 Southwest 33,521 30.4 7,378,654 64.5 26.3 54.6 55.8 78.3 West 3,498 58.3 648,577 79.1 20.1 62.3 67.4 88.4 United States 37,019 29.7 16,818,114 64.3 25.7 37.5 56.9 75.7 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 35.3 36.0 28.7 29.8 39.0 42.0 0.6 0.4 Corpus Christi 35.7 35.9 27.8 29.4 47.0 47.0 0.6 0.4 Dumas - 37.4-30.1-47.0-0.5 Florence - 36.4-29.5-45.0-0.5 Lamesa - 35.9-30.1-40.0-0.4 Lubbock 36.5 36.1 30.4 30.8 38.0 41.0 0.9 0.4 Macon - 36.6-28.8-43.0-0.5 Memphis - 37.1-29.7-46.0-0.5 Rayville - 36.8-30.0-47.0-0.5 Visalia 36.2 37.6 29.7 32.2 41.0 45.0 0.6 0.3 Region Southeast - 36.5-29.0-43.7-0.5 Mid-South - 37.2-29.8-46.4-0.5 Southwest 35.5 36.0 28.9 30.2 39.8 42.5 0.7 0.4 West 36.2 37.6 29.7 32.2 41.0 45.0 0.6 0.3 United States 35.6 36.5 28.9 29.9 39.9 44.0 0.7 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 80.3 Rayville - 80.8 You may contact us by mail at Corpus Christi 79.7 80.9 Visalia 80.3 81.8 7193 Goodlett Farms Parkway Dumas - 81.2 Region Cordova, TN 38016 ; Florence - 80.6 Southeast - 80.9 by phone (901)274-9030. Lamesa - 80.5 Mid-South - 81.5 Lubbock 81.2 80.9 Southwest 80.4 80.7 Macon - 81.0 West 80.3 81.8 Memphis - 81.8 United States 80.4 81.0
For The Week Ending March 28, 2019 Quality Page 2. SAMPLES CLASSED COLOR GRADE % 31 or Better % 41 or Better State Week Tenderable Season Tenderable Week Season Week Season Alabama - - 810,794 62.8-20.5-69.2 Arizona 3,284 55.5 404,650 72.5 15.0 46.5 65.3 84.4 Arkansas - - 1,269,377 70.4-8.1-66.2 California - - 197,795 90.5-92.9-94.2 Florida - - 82,621 59.3-8.9-63.7 Georgia - - 1,948,217 73.7-34.0-74.1 Kansas 14,352 25.2 188,995 41.7 28.4 37.6 57.4 71.4 Louisiana - - 415,500 56.1-27.7-72.2 Mississippi - - 1,399,084 74.9-24.3-83.8 Missouri - - 754,865 68.8-12.4-77.7 New Mexico - - 33,828 88.7-70.9-98.1 North Carolina - - 703,484 76.0-23.5-78.7 Oklahoma 9,750 46.1 585,739 76.0 25.6 50.3 56.8 85.9 South Carolina - - 363,583 78.2-20.0-73.6 Tennessee - - 762,551 46.7-10.4-54.1 Texas 11,756 20.3 6,712,638 63.7 19.3 55.0 45.8 77.4 Virginia - - 184,393 82.1-30.2-84.1 United States 39,142 29.7 16,818,114 64.3 23.8 47.3 22.5 78.6 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 - 36.7-29.0-44.0-0.5 Arizona 36.0 37.3 29.3 31.3 41.0 46.0 0.6 0.4 Arkansas - 37.5-29.8-46.0-0.6 California - 38.0-34.4-43.0-0.2 Florida - 37.2-28.4-45.0-0.5 Georgia - 36.6-28.8-42.0-0.5 Kansas 35.6 36.0 28.6 29.2 38.0 39.0 0.7 0.6 Louisiana - 37.2-30.4-48.0-0.4 Mississippi - 37.3-29.9-47.0-0.5 Missouri - 37.5-29.9-47.0-0.5 New Mexico - 38.0-30.3-41.0-0.3 North Carolina - 36.4-29.9-46.0-0.5 Oklahoma 34.9 36.2 28.8 30.1 41.0 43.0 0.5 0.4 South Carolina - 36.6-28.8-44.0-0.5 Tennessee - 36.5-29.4-48.0-0.4 Texas 36.0 36.0 29.1 30.3 42.0 42.0 0.8 0.4 Virginia - 36.0-29.1-47.0-0.4 United States 35.6 36.6 13.6 30.0 40.2 43.3 0.4 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 Missouri - 82.3 You may contact us by mail at Arizona 80.1 81.4 New Mexico - 82.1 7193 Goodlett Farms Parkway Arkansas - 81.8 North Carolina - 80.8 Cordova, TN 38016 ; California - 82.4 Oklahoma 79.8 80.5 by phone (901)274-9030. Florida - 80.6 South Carolina - 80.4 Georgia - 81.0 Tennessee - 81.6 Kansas 80.7 80.7 Texas 80.3 80.8 Louisiana - 81.0 Virginia - 80.6 Mississippi - 81.1 United States 80.3 80.9