June 9th Cotton Condition & Progress Report
Blog Post Top

Cotton Incorporated’s Economist, Jon Devine

Cotton prices lost some ground today.   The nearby July contract gave up 23 points, and closed below recent support near 85 cents per pound.

December took over as the contract with the most open interest in today’s trading. December gave up gave up 71 points to close at 77.29 cents/lb.

Despite the decrease, December prices continue to be range-bound.  Today’s  decline simply pulled values back to the lower half of the tight range between 77 and 79 cents that they have been holding since stabilizing in late May.  This is the same general range that December prices traded in throughout most of the winter.

It is still early in the game figures on crop development.  Today’s progress and condition report represented the second week of data on squaring.  In the report, 8% of the cotton belt, crop is reported to be that far along, which is 2% behind the five-year average.  Today’s progress report is the first to offer crop condition data.  In those figures 86% of the crop was in fair to excellent condition, last year 79% was in the same range.

As we move into the summer, the national condition figures could be helped along by the alleviation of drought conditions in West Texas.  Although, most of West Texas remains in drought, the heavy rains around Memorial Day did bring some improvement.  Lubbock airport did report some additional precipitation over the weekend, and more than ¼ inch today (Monday).  This week’s forecast isn’t calling for additional rain in West Texas, but the arrival of any additional moisture as the crop matures can be expected to have a heavy impact on the size of national harvest, and therefore should be an important diver of price movement.

A native of the Texas Panhandle, Rhonda was born and raised on a cotton farm where she saw cotton farming evolve from ditch irrigation to center pivot irrigation and harvest trailers to modules. After graduating from Texas Tech University, she got her start in radio with KGNC News Talk 710 in Amarillo, Texas.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Blog Post Right - 1
Blog Post Right-1

Blog Post Right - 2
Blog Post Right - 2_crawford

Upcoming Events

Oct
31
Fri
5:30 pm South Carolina Native Plant Society 2014 Annual Conference @ Penn Center, St. Helana Island
South Carolina Native Plant Soci… @ Penn Center, St. Helana Island
Oct 31 @ 5:30 pm – 8:30 pm
The conference will be held at the historic Penn Center on St Helana Island. Field trips and workshops will include Penn Center Museum & [...]
Nov
5
Wed
all-day TGANC Harvest Golf Tournament & Awards Dinner @ Lonnie Poole Golf Course
TGANC Harvest Golf Tournament & … @ Lonnie Poole Golf Course
Nov 5 all-day
This is an open participation event to anyone who enjoys golf (919) 833-3338 lonniepoolegolfcourse.com The Lonnie Poole Golf Course at NC State is positioned on [...]
Nov
7
Fri
9:00 am Small Ruminant Management Workshop Series @ Pee Dee Research & Education Center
Small Ruminant Management Worksh… @ Pee Dee Research & Education Center
Nov 7 @ 9:00 am – 4:30 pm
Clemson University Cooperative Extension Service Livestock and Forages Team will conduct a one day small ruminant management workshop. Topics to be covered include:  Facilities, [...]
Nov
10
Mon
all-day Sustainable Agriculture Conference @ Hyatt Regency Greenville
Sustainable Agriculture Conference @ Hyatt Regency Greenville
Nov 10 – Nov 12 all-day
The Sustainable Agriculture Conference brings together those new to the movement and experienced veterans to network and collaborate.  There is no place like the Sustainable [...]
Nov
18
Tue
8:00 am Farm City Day @ Bennettsville Community Center Bennettsville, SC
Farm City Day @ Bennettsville Community Center Bennettsville, SC
Nov 18 @ 8:00 am – 2:00 pm
Farm City Day is a yearly event that promotes a better understanding between agricultural and urban communities. Marlboro County, Clemson Extension, Marlboro Electric Cooperative [...]

View Calendar