Cotton sales weak, shipments strong
Jun 24, 2008 10:13 AM
Net export sales of U.S. cotton for the week ending June 12 were 44,800 bales (480 pounds). This brings total 2007-08 sales to approximately 15.3 million bales. Total sales at the same point in the 2006-07 marketing year were roughly 14.1 million bales.
Total new crop (2008-09) sales are 906,700 bales as of June 12.
Shipments for the week were 311,900 bales, bringing total exports to date to 11.4 million bales, compared with the 10.0 million bales at the comparable point in the 2006-07 marketing year.
With approximately two months remaining in the marketing year, weekly shipments must average roughly 360,000 bales to reach the USDA projection of 13.9 million bales.
