Week Ending: Oct. 25, 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.) December-18 77.68 78.05-0.37 80.14 76.14 94.82 61.09 March-19 78.96 79.49-0.53 81.57 77.92 94.50 62.00 May-19 80.14 80.55-0.41 82.51 79.23 94.25 64.53 July-19 81.04 81.29-0.25 83.09 80.30 94.00 65.82 October-19 78.40 78.29 0.11 79.60 78.15 88.16 66.52 December-19 77.07 76.82 0.25 77.94 76.50 84.50 65.57 March-20 77.83 77.57 0.26 78.40 77.43 84.04 65.77 May-20 78.09 77.88 0.21 78.64 77.74 83.51 65.77 July-20 78.29 78.04 0.25 78.81 77.90 83.26 65.77 CHICAGO CORN FUTURES (Cents/Bu.) December-18 361.00 370.75-9.75 372.50 360.50 429.50 342.50 March-19 373.50 383.00-9.50 384.75 372.75 437.00 354.75 May-19 381.50 390.25-8.75 392.00 380.75 441.25 363.25 July-19 387.25 395.75-8.50 397.75 386.50 445.00 370.00 September-19 389.75 396.75-7.00 399.50 389.50 426.75 375.75 CHICAGO SOYBEAN FUTURES (Cents/Bu.) November-18 841.75 863.50-21.75 866.25 840.00 1060.50 812.25 January-19 854.50 877.75-23.25 880.25 852.75 1063.25 826.25 March-19 868.00 890.50-22.50 893.00 866.25 1054.50 839.75 May-19 882.00 903.75-21.75 906.25 880.00 1051.75 853.00 July-19 893.75 913.75-20.00 916.50 891.75 1051.75 863.25 August-19 898.25 918.25-20.00 920.75 896.75 1040.25 868.25 September-19 900.50 919.25-18.75 921.50 898.75 1025.25 864.75 WORLD MARKET (Cents/Lb.) CHINA WEEKLY PRICES (Cents/Lb.) Effective Oct 26 - Nov 1, '18 Week Ending October 25, 2018 This Week Year Ago % Change Current Forward A (Far East) 87.65 79.21 11% AWP 69.41 NA CnCotton A 107.79 111.46-3% 5 Lowest Far East Quotes 86.65 NA Polyester 67.92 61.24 11% USFE Low Quote 87.90 NA Source: A (FE) - Cotton Outlook; Other - China Cotton Website USFE-5 Lowest Far East Quotes 1.25 NA Fine Count CFR Far East 87.82 NA MY AVG. FARM PRICE U.S. WEEKLY SPOT PRICES (Cents/Lb.) Course Count CFR Far East NA NA Upland Cotton (Cents/Lb.) Fine Count Adj ('17 Crop) 0.98 NA 18/19 YTD (Aug) 69.7 Week Ending October 25, 2018 Fine Count Adj ('18 Crop) 1.03 NA 17/18 Proj.** 68.0 Coarse Count Adj 0.00 NA 18/19 Proj.** 69.0-77.0 This Week Year Ago Open Quotas 13 NA 3135 78.21 69.72 LDP 0.00 NA Cottonseed 4134 74.84 66.91 ELS Comp Pymnt 0.00 NA ($/Ton) (Cents/Lb.) 17/18 Proj.** 139 7.0 18/19 Proj.** 115-155 5.8-7.8 **16/17 and 17/18 projections by USDA.
Week Ending: Oct. 25, 2018 Market Page 2. CCC LOAN STOCKS (Includes '17 & '18 Crop) U.S. COTTON EXPORTS (Thou. 480-lb. Bales) As of October 22, 2018 Week Ending October 18, 2018 Form A Form G Total Upland (Running Bales) Week Total Total Week Total Southeast 0 69,197 69,197 18/19 18/19 17/18 19/20 19/20 Mid-South 76,680 585,591 662,271 Sales 53.6 9,788.7 8,715.7 4.7 1,822.6 Southwest 0 250,490 250,490 Shipments 148.6 1,999.3 1,789.5 0.0 0.0 West 0 27,550 27,550 U.S. 76,680 932,828 1,009,508 TOP 10 CUSTOMERS OF U.S. RAW COTTON (Thou. 480-Lb. Bales) ELS U.S. 2,349 11,515 13,864 Country 18/19 18Share 19/20 19Share VIETNAM 2,066 21% 3 0% CCC LOAN INTEREST RATES CHINA 1,782 18% 842 46% Borrowing Rate Interest Rate* MEXICO 1,024 10% 331 18% September 2.375% 3.375% INDONESIA 986 10% 23 1% October 2.500% 3.500% BANGLADESH 739 8% 18 1% PAKISTAN 677 7% 356 20% THAILAND 425 4% 55 3% * Interest rate for crop year commodity loans less than one year. KOREAN REPUBLIC 371 4% 25 1% TURKEY 355 4% 0 0% CERTIFICATED STOCKS (Running Bales) MALAYSIA 200 2% 23 1% TOTAL 9,789 0% 1,823 0% Stocks Review CFTC DISAGGREGATED COMMITMENTS OF TRADERS Dallas/Ft. W - - Options and Futures Combined Galveston - - As of October 23, 2018 Greenville - - Houston - - Total Open Commercial Swap Dealers Memphis - - Interest Net Position Net Position Total 353,273 (110,189) 50,750 TOTAL - - Weekly Change (5,295) (359) (718) Non Commercial Net Position 59,439 1,079 ON-CALL COTTON (100 Bale Contracts) As of October 19, 2018 STATE OF THE ECONOMY Week Ending October 25, 2018 Thursday Last % Change Call Week's Call Week's Settlement Thurs. YTD Contract Sales Change Purch. Change Dow Jones Ind. Avg. 24,985 25,379 1% S&P 500 2,706 2,769 1% December '18 22,681-740 17,689-640 10-Yr Treas. Bond Rate 3.136% 2.883% 30% March '19 38,816 319 4,372 201 NASDAQ Composite 7,318 7,485 6% May '19 20,028 118 649 0 Russell 2000 1,500 1,561-2% July '19 28,937 416 1,972 20 October '19 0 0 0 0 Japanese Nikkei Stock Avg 21,269 22,658-7% December '19 16,621 936 17,848 191 Hong Kong Hang Seng 24,994 25,455-16% March '20 5,382 0 209 0 Singapore Straits Times 3,013 3,070-11% May '20 2,078 0 0 0 Shanghai Composite 2,604 2,486-21% July '20 1,872 0 0 0 December '20 1,166 0 2,500 53 Euro (in U.S.$) 1.14 1.15-5% Japanese Yen (per U.S.$) 112.42 112.19 0% WTx Int Crude Oil ($/barrel) 69.25 71.84 15% Diesel, Ultra-low ($/gal) 2.33 2.33 12% * Indicates changes from previous week based on revised data for last week. Natural Gas ($/million btu) 3.20 3.26-13%
Week Ending: COTTON SUPPLY AND DEMAND (Million 480-lb. Bales) Estimates for October 2018 US World Oct. 25, 2018 Market Page 3. U.S. COTTON TEXTILE TRADE YTD_Aug18 YTD_Aug17 (Million 480-lb. Bale Equiv.) 17/18 18/19p 16/17 17/18p Imports 12.29 11.91 Beginning Stocks 2.8 4.3 80.9 80.9 Exports 2.34 2.38 Production 20.9 19.8 123.5 121.7 Imports 0.0 0.0 41.0 41.4 US COTTONSEED SUPPLY AND DISAPPEARANCE Total Supply 23.7 24.1 245.4 244.0 (000 Short Tons) Mill Use 3.2 3.4 123.3 127.8 Marketing Year Exports 15.9 15.5 40.7 41.5 17/18 18/19 Total Use 19.1 18.9 164.0 169.2 Beg. Stocks 400 450 Ending Stocks 4.3 5.0 80.9 74.5 Production 6,422 6,184 Stocks/Use Ratio 22.5% 26.5% 65.6% 58.3% Imports 0 0 *17/18 estimates by USDA, 18/19 projections by USDA. Total Supply 6,822 6,634 Crush 1,854 1,900 U.S. COTTON PLANTINGS, PRODUCTION, AND YIELD Exports 478 425 2018 2018 Other 4,040 3,871 Production 480-2018 Yield 2017 Actual Estimated Total Demand 6,372 6,196 Lb. Bales per Harv. Acreage Plantings End. Stocks 450 438 (Thou.) 1/ Acre (Lb.) 1/ (Thou.) 1/ (Thou.) 2/ Change UPLAND USDA-ERS October Oil Crops Outlook. SOUTHEAST 5,600 950 2,523 2,886 14.4% Alabama 1,120 1,065 435 510 17.2% US COTTONSEED MEAL SUPPLY AND DISAPPEARANCE Florida 220 910 99 118 19.2% (000 Short Tons) Georgia 2,900 980 1,280 1,430 11.7% Marketing Year North Carolina 670 804 375 430 14.7% 17/18 18/19 South Carolina 485 803 250 300 20.0% Beg. Stocks 28 40 Virginia 205 1,014 84 98 16.7% Production 845 855 MID-SOUTH 4,625 1,133 1,945 1,985 2.1% Imports 0 0 Arkansas 1,150 1,150 445 485 9.0% Total Supply 873 895 Louisiana 420 1,061 220 195-11.4% Consumption 708 735 Mississippi 1,460 1,140 630 620-1.6% Exports 125 120 Missouri 830 1,245 305 325 6.6% Demand 833 855 Tennessee 765 1,034 345 360 4.3% End. Stocks 40 40 SOUTHWEST 7,965 731 7,578 8,645 14.1% Kansas 335 1,011 93 165 77.4% USDA-ERS October Oil Crops Outlook. Oklahoma 930 783 585 780 33.3% Texas 6,700 715 6,900 7,700 11.6% US COTTONSEED OIL SUPPLY AND DISAPPEARANCE WEST 802 1,464 314 278-11.5% (Million Pounds) Arizona 480 1,546 160 150-6.3% Marketing Year California 172 1,685 88 50-43.2% 17/18 18/19 New Mexico 150 1,108 66 78 18.2% Beg. Stocks 44 50 TOTAL UPLAND 18,992 887 12,360 13,794 11.6% Production 565 590 TOTAL ELS 771 1,508 253 248-1.8% Imports 1 1 Arizona 25 889 15 14-6.7% Total Supply 610 641 California 701 1,610 216 210-2.8% Domestic Consumption 450 491 New Mexico 13 904 8 7-6.7% Exports 110 100 Texas 32 960 14 17 21.4% Total Demand 560 591 ALL COTTON 19,763 901 12,613 14,042 11.3% End. Stocks 50 50 1/ USDA-NASS October Crop Production Report. 2/ Revised from USDA-NASS June Acreage Report. USDA-ERS October Oil Crops Outlook.
Week Ending: Oct. 25, 2018 US CROP PROGRESS Market Page 4. PERCENT BOLLS OPENING PERCENT HARVESTED 10/21/18 10/14/18 10/21/17 5-Yr Avg 10/21/18 10/14/18 10/21/17 5-Yr Avg Alabama 93 90 89 93 41 28 43 43 Arizona 100 100 100 100 29 26 27 30 Arkansas 100 100 100 99 77 67 68 59 California 80 70 83 95 30 20 24 43 Georgia 95 92 97 95 29 20 36 31 Kansas 84 77 85 80 3 2 9 7 Louisiana 100 100 100 100 75 65 82 85 Mississippi 99 98 96 98 70 60 57 66 Missouri 100 100 100 92 81 70 60 45 North Carolina 97 95 93 94 30 17 29 21 Oklahoma 90 85 94 92 17 12 20 15 South Carolina 82 79 99 92 24 18 40 24 Tennessee 99 98 100 92 60 50 54 35 Texas 83 79 79 84 35 30 31 26 Virginia 96 91 100 98 34 12 40 22 US 88 85 86 89 39 32 36 33 Southeast 94 91 95 94 31 20 37 31 Mid-South 100 99 99 96 72 62 62 58 Southwest 84 80 80 85 33 28 30 25 West 95 93 96 99 29 24 26 35 1/ These 15 states planted 99% of last year's cotton acreage. * Revised. US CROP CONDITION Week Ending 10/21/18 VP P F G E Alabama 6 11 14 55 14 Arizona 3 8 24 51 14 Arkansas 1 4 16 42 37 California 0 0 5 90 5 Georgia 27 22 35 14 2 Kansas 1 4 35 53 7 Louisiana 0 3 34 56 7 Mississippi 0 6 24 49 21 Missouri 1 10 28 46 15 North Carolina 5 26 38 29 2 Oklahoma 1 12 75 11 1 South Carolina 0 6 43 36 15 Tennessee 4 4 23 49 20 Texas 16 25 33 20 6 Virginia 1 4 20 72 3 US 13 20 33 26 8 Previous Week 11 20 34 29 6 Previous Year 5 9 30 42 14
For The Week Ending October 25, 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 9,451 58.8 27,977 50.8 54.7 50.1 67.0 55.3 Corpus Christi 76,665 57.7 1,373,851 61.0 31.8 59.1 43.7 69.5 Dumas 129,015 76.7 396,830 80.0 24.9 33.9 87.4 89.8 Florence 105,234 73.1 174,308 71.7 24.7 25.8 75.9 73.0 Lamesa 7,824 74.5 18,205 76.2 62.4 66.6 77.7 75.4 Lubbock 18,187 46.9 36,953 52.8 31.4 45.3 55.9 58.5 Macon 163,069 82.7 312,585 83.0 57.5 62.2 85.5 86.4 Memphis 292,353 56.3 970,191 56.6 8.2 19.2 60.4 61.7 Rayville 57,015 52.7 190,346 63.3 22.8 41.8 67.6 78.8 Visalia 13,488 91.2 42,959 87.2 92.5 84.5 92.9 84.7 Region Southeast 268,303 78.9 486,893 79.0 44.6 49.2 81.7 81.6 Mid-South 478,383 61.4 1,557,367 63.4 14.4 25.7 68.5 71.0 Southwest 112,127 57.2 1,456,986 60.8 35.8 58.7 50.0 69.0 West 13,488 91.2 42,959 87.2 92.5 84.5 92.9 84.7 United States 872,301 64.1 3,544,205 63.9 27.7 43.2 70.6 71.8 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 36.0 36.1 30.6 30.2 45.0 43.0 0.5 0.5 Corpus Christi 36.2 35.9 29.5 29.9 46.0 47.0 0.4 0.3 Dumas 37.3 37.4 30.0 30.2 47.0 47.0 0.5 0.5 Florence 36.7 36.7 29.7 29.6 45.0 46.0 0.4 0.4 Lamesa 36.8 36.6 30.1 30.5 44.0 44.0 0.5 0.4 Lubbock 36.5 36.5 31.1 31.3 42.0 42.0 0.6 0.5 Macon 36.9 36.8 28.6 28.5 43.0 43.0 0.4 0.4 Memphis 37.2 37.2 29.7 30.0 47.0 47.0 0.5 0.5 Rayville 36.8 37.2 30.1 30.7 48.0 47.0 0.5 0.5 Visalia 37.9 37.2 34.2 32.4 44.0 45.0 0.2 0.2 Region Southeast 36.8 36.8 29.0 28.9 43.8 44.1 0.4 0.4 Mid-South 37.2 37.3 29.8 30.1 47.1 47.0 0.5 0.5 Southwest 36.3 35.9 29.9 29.9 45.1 46.8 0.4 0.3 West 37.9 37.2 34.2 32.4 44.0 45.0 0.2 0.2 United States 37.0 36.6 29.7 29.9 45.8 46.5 0.5 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 81.0 81.0 Rayville 80.7 81.2 You may contact us by mail at Corpus Christi 80.7 81.3 Visalia 82.4 82.0 7193 Goodlett Farms Parkway Dumas 81.2 81.4 Region Cordova, TN 38016 ; Florence 80.9 81.0 Southeast 80.8 80.9 by phone (901)274-9030. Lamesa 80.8 80.8 Mid-South 81.6 81.8 Lubbock 81.2 81.3 Southwest 80.8 81.3 Macon 80.8 80.8 West 82.4 82.0 Memphis 82.0 82.1 United States 81.3 81.5
For The Week Ending October 25, 2018 Quality Page 2. SAMPLES CLASSED COLOR GRADE % 31 or Better % 41 or Better State Week Tenderable Season Tenderable Week Season Week Season Alabama 61,400 59.8 152,694 58.7 24.1 28.1 65.4 62.3 Arizona 2,437 72.4 25,678 81.3 66.3 75.1 68.1 75.3 Arkansas 123,581 69.7 408,620 70.6 8.2 15.8 68.5 69.4 California 11,051 95.3 17,281 96.0 98.4 98.7 98.5 98.8 Florida 4,211 78.5 4,753 78.8 13.5 19.5 83.0 83.5 Georgia 119,805 86.9 224,250 87.5 67.7 71.6 87.9 89.5 Kansas - - - - - - - - Louisiana 48,888 54.4 169,977 64.2 24.4 44.5 72.9 82.6 Mississippi 124,644 74.4 372,642 77.7 26.2 36.2 85.0 88.0 Missouri 74,971 61.6 262,067 63.7 6.3 23.8 70.7 75.9 New Mexico - - - - - - - - North Carolina 63,871 70.1 105,651 69.8 21.5 23.4 73.9 71.0 Oklahoma 5,851 64.3 13,309 66.5 68.7 68.6 73.2 72.1 South Carolina 26,264 81.1 42,217 78.2 30.1 30.1 81.9 78.8 Tennessee 78,415 39.2 264,166 37.1 7.8 19.3 48.0 46.1 Texas 111,813 55.7 1,447,853 60.8 33.2 58.4 47.7 68.9 Virginia 15,099 72.0 26,440 68.7 28.4 28.7 73.0 71.6 United States 872,301 64.1 3,537,598 63.9 27.7 44.9 62.2 77.7 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 36.9 36.8 28.9 28.9 44.0 44.0 0.5 0.5 Arizona 37.1 36.5 29.9 30.4 43.0 45.0 0.4 0.2 Arkansas 37.5 37.5 29.8 30.0 46.0 46.0 0.5 0.6 California 38.1 38.2 35.1 35.3 44.0 44.0 0.2 0.2 Florida 37.7 37.7 28.2 28.2 44.0 44.0 0.5 0.5 Georgia 36.9 36.8 28.7 28.5 42.0 42.0 0.4 0.4 Kansas - - - - - - - - Louisiana 37.1 37.4 30.3 30.9 48.0 48.0 0.4 0.5 Mississippi 37.2 37.3 29.9 30.2 47.0 47.0 0.5 0.5 Missouri 37.5 37.4 30.0 30.2 47.0 47.0 0.5 0.5 New Mexico - - - - - - - - North Carolina 36.6 36.6 30.0 29.8 46.0 46.0 0.4 0.4 Oklahoma 36.4 36.1 31.2 31.2 44.0 44.0 0.5 0.5 South Carolina 37.2 37.2 29.4 29.3 43.0 43.0 0.5 0.5 Tennessee 36.6 36.6 29.5 29.8 48.0 48.0 0.4 0.4 Texas 36.2 35.9 29.8 29.9 45.0 47.0 0.4 0.3 Virginia 36.2 36.2 29.2 29.0 46.0 47.0 0.4 0.4 United States 37.0 37.0 29.7 30.2 45.6 45.2 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 82.5 82.5 You may contact us by mail at Arizona 81.1 81.4 New Mexico - - 7193 Goodlett Farms Parkway Arkansas 81.9 82.0 North Carolina 81.0 81.0 Cordova, TN 38016 ; California 82.7 82.8 Oklahoma 81.6 81.5 by phone (901)274-9030. Florida 80.6 80.6 South Carolina 80.8 80.9 Georgia 80.9 80.8 Tennessee 81.7 81.9 Kansas - - Texas 80.8 81.3 Louisiana 80.9 81.4 Virginia 80.7 80.8 Mississippi 81.1 81.4 United States 81.3 81.4