Demand for spot has shrunk significantly
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September 29, 2025
According to the latest report from the U.S. Department of Agriculture (USDA), a total of 98,000 tons of cotton was graded during the week ending January 6. Out of this, 94,000 tons were upland cotton, with 72.5% meeting the ICE futures trading requirements (SLM 1-1/16 or higher grade). Additionally, 4,000 tons of Pima cotton were graded during the same period.
As of January 6, Japan had completed a cumulative grading inspection of 3.758 million tons of cotton, including 3.974 million tons of upland cotton, of which 65.3% met the ICE trading standards. Pima cotton totaled 84,000 tons. In terms of regional inspections, only Texas exceeded 10,000 tons in the current week, with 67,000 tons inspected. So far this season, Texas has accumulated 1.635 million tons, making up 43.5% of the national total.
Spot Prices During the Period
From December 31, 2010, to January 6, 2011, the average spot price for the seven major U.S. domestic markets stood at 135.77 cents per pound, marking a decrease of 1.71 cents from the previous week but an increase of 68.01 cents compared to the same period last year. The ICE March contract closed at 141.22 cents per pound, down 1.62 cents from the prior week. A total of 20,330 bales were sold across the seven major domestic spot markets during the week. On January 7–13, 2011, the AWP price was reported at 154.87 cents, while the LDP subsidy remained at 0.00 cents.
Market Transactions
The U.S. domestic spot market saw normal supply and demand dynamics, with average spot prices declining. In the southwestern region, foreign inquiry prices dropped significantly, while the western desert and San Joaquin regions experienced limited inquiries. Only Pima cotton for the current and next season showed steady demand, with prices remaining stable or even rising slightly.
Weather Conditions and Harvest Progress
During the week, the southeastern United States experienced rain and snow, which helped alleviate drought conditions. As the new year approached, the weather turned dry, and ginning activities were expected to wrap up within a few weeks. The Delta region also saw heavy rainfall, improving soil moisture. In Eastern Texas, most ginning work was nearing completion within two weeks. In southern Texas, dry conditions prevailed, and ginning and inspection efforts in the east were concluding. There is hope for expanding crop varieties in spring in some areas, while western Texas faced heavy rains. Cotton farmers are preparing for spring planting, with ginning and inspection entering their final stages. In the western desert area, mild weather allowed ginning and inspection to continue. In the San Joaquin region, sawing and ginning have concluded, with roller ginning still ongoing. Recent heavy rains in the area have led to favorable conditions for planting. The California Water Department noted that snowfall has reached twice the annual average, which is beneficial for spring planting. Similarly, heavy rainfall in the Pima region has created good prospects for sowing.
Domestic and International Textile Demand
During the week, U.S. textile mills placed inquiries for spot shipments of grade 4 cotton, though purchasing activity remained cautious. Cotton traders and mills struggled to finalize contracts for the second quarter, with most factories still operating at full capacity. U.S. cotton export inquiries remain strong, with Pakistan showing interest in 4th and 5th grade cotton, with delivery scheduled from May to July. Meanwhile, the Taiwan region has expressed interest in both 4th and 5th grade cotton, with loading periods set for 2–3 months.