Weekly Cotton Review

CN206
April 22, 2011
Spot cotton quotations averaged 20 cents lower than the previous week, according to the USDA, Agricultural 
Marketing Service’s Cotton Program.  Quotations for the base quality of cotton (color 41, leaf 4, staple 34, 
mike 35-36 and 43-49, strength 26.5-28.4, uniformity 81) in the seven designated markets averaged 175.16 
cents per pound for the week ended Thursday, April 21, 2011.  The weekly average was down from 195.11 
cents last week, but up from 76.05 cents reported the corresponding period a year ago. Daily average 
quotations ranged from a high of 181.04 cents on Monday, April 18 to a low of 169.97 cents on Wednesday, 
April 20.  Spot transactions reported in the Daily Spot Cotton Quotations for the week ended April 21 totaled 
0 bales.  This compares to 519 bales last week and 11,080 bales reported a year ago.  Total spot transactions for 
the season were 579,416 bales, compared to 855,950 bales the corresponding week a year ago.  The ICE July 
futures settlement prices ended the week at 167.51 cents, compared to 178.00 cents last week.
Prices are in effect from April 22-28, 2011
Adjustment World Price (AWP)                195.72     ELS Competitiveness Payment                 0.00
Loan Deficiency Payment (LDP)                  0.00            Fine Count Adjustment  2009 Crop           1.55
Coarse Count Adjustment (CCA)                  0.00           Fine Count Adjustment 2010 Crop             1.65
Source:  Farm Service Agency, FSA, USDA
Southeastern Markets 
Spot cotton trading was inactive.  Supplies were light.  Demand was light.  Producer offerings were light.  
Average local spot prices were lower.  Trading of CCC-loan equities was inactive.
A violent storm system swept across the region over the weekend and spawned dozens of tornados 
which resulted in over 40 deaths in Alabama, North Carolina, and Virginia.  The most extensive loss of life 
occurred in North Carolina, where authorities confirmed 24 deaths, hundreds of injuries, and thousands of 
homes damaged.  Planting activity was delayed in localized cotton-growing areas of northeast North Carolina 
as producers attempted to clear fields of storm debris and wreckage from barns, field equipment, and dead 
livestock.  No additional damage to industry infrastructure, such as gins or warehouses was reported.  
Scattered rainfall was received in areas of south Georgia.  Rainfall accumulations were generally less than one-
half of an inch.  Planting activities were slowly getting underway in Alabama and Georgia.  Daytime 
temperatures were in the low-to-high 80s.  Planting should expand rapidly as soil temperatures rise in the weeks 
ahead.  Weed control strategies of herbicide resistant pigweed was on the mind of producers throughout the 
region, as the 2011 season gets underway.
South Central Markets 
North Delta
Spot cotton trading was inactive.  Supplies and demand were very light.  Average local spot prices were lower.  
Trading of CCC-loan equities was inactive.   No forward contracting was reported. 
  Daytime temperatures in the upper 80s early in the period approached record highs for the season.  A 
fast-moving cold front produced severe weather in the form of hail, high winds, and heavy thunderstorms in 
northeastern Arkansas and western Tennessee near the end of the reporting period.  Extensive damage to 
structures and personal property from downed trees and flying debris were reported throughout the Memphis 
and outlying areas. Some areas were without power for several days.  Low-lying fields and several roads were 
flooded.  Overnight temperatures were in the mid 60s and daytime conditions  were  unseasonably cool, with 
an over
cast.  Fieldwork was delayed in most areas as producers waited for saturated soils to firm.  Local experts re-       
ported that planting was just getting underway in southern Arkansas.
South Delta
Spot cotton trading was inactive.  Supplies and demand were very light.  Average local spot prices were lower.  
Trading of CCC-loan equities was inactive.   No forward contracting was reported.  
  Some cotton-producing areas in northeastern Louisiana received less than one-quarter of an inch of rain 
early in the reporting period.  Topsoil moisture from previous storms allowed producers to make excellent 
planting progress.  Overnight temperatures in the 60s greatly helped soils to warm sufficiently to promote good 
seed germination.  Overall, local experts estimated planting was 28 percent completed in Louisiana and 2 
percent in Mississippi.  A few fields with emerged cotton were treated for thrips.
Southwestern Markets
East Texas-Oklahoma
Spot cotton trading was inactive.  Supplies were light.  Demand was light.  Producer offerings were light.  
Average local spot prices were lower.  Trading of CCC-loan equities was inactive.  
  Planting activity made limited progress due to extreme dryness throughout the region.  In the Blacklands 
and Coastal Bend, planting was delayed as producers waited for a period of beneficial rainfall to replenish 
subsoil moisture.  Breezy conditions further dried parched soils.  Irrigated acreage in South Central Texas 
progressed well.  In the Rio Grande Valley, heavily irrigated cotton progressed well as daytime temperatures in 
the 90s to low 100s increased heat units.  The droughty conditions severely increased the risk of wildfire danger 
throughout the region.  Additional cotton acreage may be planted as competing crops are plowed under, due to 
the lack of moisture.  In Kansas, seedbed preparation was underway and irrigated acreage was pre-watered.  
Producers considered planting options behind failed wheat, as some residual herbicides allowed shorter re-crop 
intervals with herbicide tolerant cotton.  Portions of southeast Oklahoma received beneficial rainfall which 
helped alleviate extreme-to-severe drought conditions.  The balance of seedbed preparations had been 
completed.
West Texas
Spot cotton trading was inactive.  Supplies were light.  Demand was light.  Producer offerings were light.  
Average local spot prices were lower.  Trading of CCC-loan equities was inactive.  
Planting activity was delayed due to extremely dry, hot conditions.  Parched, windy conditions 
increased the potential for wildfires throughout the region.  In the Rolling Plains, fires continued to burn in 
several counties.  Light, scattered precipitation received in areas of North Texas rapidly evaporated, due to high 
winds.  Land preparation continued in the Panhandle and acreage was heavily irrigated, where available.  Local 
experts reported that planned organic acreage may increase 10 to 15 percent for the 2011-crop season.
Western Markets
Desert Southwest (DSW)
Spot cotton trading was inactive.  Supplies and demand were light.  Average local spot prices were lower.  No 
domestic mill activity was reported.  
Favorable weather conditions allowed the crop to make good progress in Yuma, Arizona.  Cool weather 
in other parts of the region slowed planting, which was estimated at 25 percent completed, 6 percentage points 
behind the NASS 5-year average.  Dry, windy conditions prevailed in New Mexico and El Paso, Texas, where 
brushfires and droughty conditions were seriously impacting planting efforts.  Planting progress in New Mexico 
reached 29 percent completed, according to NASS Crop and Weather Report released on April 18.  This was 
well ahead of the 5-year average of 15 percent.
San Joaquin Valley (SJV)
Spot cotton trading was inactive.  Supplies were light.  Demand was moderate.  Average local spot prices were 
lower.   No domestic mill activity was reported.  Foreign mill inquiries were very light.  
Clear skies allowed soils to warm sufficiently for producers to make excellent progress, even though 
planting continued to lag 14 points behind the NASS 5-year average.  Early-planted fields progressed normally.  
American Pima (AP)
Spot cotton trading was inactive.  Supplies were light.  Demand was good.  Average local spot prices were 
steady.  
Crop progress was good in Yuma, Arizona, with most of the crop at or beyond the first true-leaf stage.  
Planting progressed in the San Joaquin Valley.  Clear skies and warm daytime temperatures allowed soil 
temperatures to rise above the threshold for good seed germination.  Seedling development in early-planted 
fields was normal.  Rain was urgently needed in the cotton-growing areas of New Mexico and El Paso, Texas, 
as extremely dry conditions persist.  High winds caused problems for firefighters battling brushfires.
Textile Mill
Domestic mill buyers purchased a moderate volume of color 53, leaf 5, and staple 32 for June/July fill-in needs.  
Mill buyers also purchased a moderate volume of color 32, leaf 3, and staple 34 for September delivery.  
Demand was also good for 2011-crop cotton, color 41, leaf 4, and staple 34 for fourth quarter delivery.  Most 
mills continued to operate at capacity.  No disruptions or damage was reported, due to the severe storm system 
which swept through the Carolinas over the weekend; where many mills are located. 
Inquiries through export channels were moderate.  Demand was good for 2011-crop cotton.  Agents for 
mills in Taiwan and Turkey inquired for a moderate volume of USDA Green Card Class, color 31 and 41, leaf 4 
and better, and staple 36 for November through January 2012 shipment.  Demand was also good throughout the 
Far East for any discounted or low-grade styles of cotton.
Southeastern Markets
* No trading activity was reported.
South Central Markets 
North Delta
* No trading activity was reported.
       South Delta
* No trading activity was reported.
Southwestern Markets 
   East Texas
* No trading activity was reported.
   West Texas
* No trading activity was reported.
Western Markets 
Desert Southwestern 
* No trading activity was reported.                 
San Joaquin Valley
* No trading activity was reported.
   American Pima
* No trading activity was reported.                 
Excerpts from National Agricultural Statistical Service, State Agricultural Summary,  NASS, USDA, 
released April 19, 2011
ALABAMA:  Days suitable for fieldwork 5.1. Topsoil moisture 1 percent very short, 13 percent short, 62 
percent adequate, and 24 percent surplus.  The average mean temperature for the week ranged from 60.3 
degrees in Huntsville, to 67.3 degrees in Mobile. The total precipitation ranged from 3.12 in Muscle Shoals to 
.09 in Mobile. Parts of Alabama received excessive amounts of rain.
ARIZONA:  Temperatures were nearly normal across the state for the week ending April 17th, ranging from 4 
degrees below normal at Canyon De Chelly to 4 degrees above normal at Buckeye and Prescott. The highest 
temperature of the week was 100 degrees at Yuma. The lowest reading was 11 degrees at Grand Canyon. There 
was no precipitation recorded in any of the 22 weather stations. All of the weather stations across the state, 
except Kingman, have below normal precipitation to date. Cotton planting is 25 percent complete, 7 percentage 
points behind last year and 6 percentage points behind the 5-year average.
ARKANSAS:  Days suitable for fieldwork 4.2. Topsoil moisture 5 percent very short, 25 percent short, 58 
percent adequate, 12 percent surplus. Subsoil moisture 12 percent very short, 31 percent short, 52 percent 
adequate, 5 percent surplus. Despite heavy rains and wet soil conditions across much of the state, planting of 
cotton continue. Herbicides were being applied by air for weed control. 
CALIFORNIA:   Cotton planting was ongoing.  
FLORIDA:    Topsoil moisture 4 percent very short, 45 percent short, 49 percent adequate, 2 percent surplus. 
Subsoil moisture 4 percent very short, 33 percent short, 60 percent adequate, 3 percent surplus.
GEORGIA:  Days suitable for fieldwork 5.9. Topsoil moisture 1 percent very short, 22 percent short, 70 percent 
adequate, 7 percent surplus. Subsoil moisture 1 percent very short, 19 percent short, 76 percent adequate, 4 
percent surplus.  Cotton 2 percent planted, 3 percent 2010, 2 percent average.  Precipitation estimates for the 
state ranged from no rain up to 4.0 inches. The week’s average temperatures ranged from the upper 50s to the 
lower 70s.
KANSAS:   Days suitable for fieldwork 4.9. Topsoil moisture 22 percent very short, 22 percent short, 51 percent 
adequate, 5 percent surplus. Subsoil moisture 22 percent very short, 27 percent short, 49 percent adequate, 2 
percent surplus.  Many areas of Kansas received rain and even snow, but not enough to ease dry conditions for 
producers. The weather varied widely, with blizzard conditions in the Northwest, blowing dust in many other 
western areas, and strong thunderstorms across the central and eastern areas. Despite the storms, only 12 of the 
52 weather stations reported more than an inch of precipitation. 
LOUISIANA:   Days suitable for fieldwork 6.5.  Soil moisture 15 percent very short, 33 percent short, 50 
percent adequate, and 2 percent surplus.
MISSISSIPPI:  Days suitable for fieldwork 4.7. Soil moisture 0 percent very short, 11 percent short, 69 percent 
adequate and 20 percent surplus.  Cotton 2 percent planted, 10 percent 2010, 6 percent average.  Dry weather 
during the first part of last week allowed farmers to work in their fields, but heavy storms shut down operations 
by the end of week. Most crops experienced significant gains in their progresses.  Cotton plantings were 
reported, but indications are that most  farmers are waiting for more favorable weather to start planting.
MISSOURI:  Days suitable for fieldwork 3.4. Topsoil moisture 2 percent short, 73 percent adequate, 25 
percent surplus.  Precipitation 1.62 in.  Temperatures were 1 to 2 degrees above average.  Rainy conditions 
improved topsoil moisture supply. 
NEW MEXICO:  Days suitable for fieldwork 6.6. Topsoil moisture 65 percent very short, 28 percent short and 
7 percent adequate. Wind damage 12 percent light, 21 percent moderate and 7 percent severe.  Freeze damage 6 
percent light.  Breezy-to-windy and very dry conditions continued. Temperatures were below normal in most 
areas of the state.
NORTH CAROLINA:  Days suitable for field work 5.0. Soil moisture 7 percent short, 76 percent adequate and 
17 percent surplus. A devastating outbreak of tornados swept across central and eastern North Carolina on 
Saturday, April 16. This historic storm caused a tremendous loss of human life and property; the agricultural 
impact is being evaluated.  Extensive damage to farm shops, equipment, and other farm structures will limit 
field activities over the next few weeks in areas hit by tornados.
OKLAHOMA:  Days suitable for fieldwork 5.8. Topsoil moisture 64 percent very short, 25 percent short, 11 
percent adequate.  Subsoil moisture 57 percent very short, 32 percent short, 11 percent adequate.  Cotton 
seedbed prepared 52 percent this week, 45 percent last week, 68 percent last year, 68 percent average.  
SOUTH CAROLINA: Days suitable for fieldwork 5.9.  Soil moisture 1 percent very short, 16 percent short, 80 
percent adequate, 3 percent surplus. Freeze damage 100 percent none, 0 percent light, 0 percent moderate, 0 
percent heavy, 0 percent severe.   The first half of the week saw high winds, but mostly sunny days, giving 
operators ample time to plant as quickly as they could.  This was fortunate, as the weekend brought severe 
weather and rainfall to much of the state. A powerful system that moved throughout the country spared most of 
the state from significant damage, although an EF2 tornado was reported in St. Stephen. Hail was reported in 
several southern counties, but there was little-to-no damage reported to the crops. Sunday, April 17, was a clear, 
sunny day for much of the state, allowing planting to resume.  
TENNESSEE:    Days suitable for fieldwork 3.5. Topsoil moisture 66 percent adequate, 34 percent surplus. 
Subsoil moisture 2 percent short, 72 percent adequate, 26 percent surplus.  Multiple storm systems passed 
through the state last week, keeping farmers out of fields and delaying spring planting.  Producers continued to 
apply fertilizer or herbicide to fields as weather allowed. Temperatures for the week were near average across 
the state. Precipitation levels averaged well above normal for all regions of the state, with Middle Tennessee 
receiving over two inches of rain, beyond what is normally expected.
TEXAS:   Areas of the Cross Timbers, the Blacklands, and North East Texas received up to 2 inches of rainfall, 
while the rest of the state observed little-to-no moisture.  In areas of the Plains, cotton planting was underway.  
Producers were in need of rainfall in areas of the Blacklands to begin planting cotton.  Irrigated  cotton in South 
Texas progressed well.  Cotton progressed well in the Lower Valley, due to increased heating units.
VIRGINIA:  Topsoil moisture 1 percent very short, 2 percent short, 73 percent adequate, 24 percent Surplus. 
Subsoil moisture 3 percent very short, 10 percent short, 80 percent adequate, 7 percent surplus.  Cotton 8 
percent; 3 percent 2010; 3 percent 5-yr average.   Moderate spring weather allowed producers to make progress 
on cotton planting, although severe weather on Saturday, April 16, caused localized damage and put a halt to 
field activities. In addition to planting activities, producers worked on applying burn down, pre-emergence 
herbicides, and fertilizer.  The severe thunderstorm that moved through the state caused flash floods, with some 
damage to farm land, fences, washed-out roads, and downed trees; while other areas experienced high winds, 
hail, and excessive downpours of rain.

(Source: http://www.dairyherd.com/dairy-news/markets/grains/Weekly-Cotton-Review-121781.html)