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Yarn Market
J. Karl Rudy, Technical Editor

Cotton Carryover To Double Next Year

By J. Karl Rudy, Technical Editor

ell, cotton has done it again! Yet another season low was set on July 12 at 47.21 cents a pound. That is the average base price of all markets and is the lowest base price since October 1992.

A respondent to the Yarn Market said: “It (the low cotton fiber price) appears to be caused by the world price situation. The adjusted world price for mid-July was 38.56 cents per pound. There is no strength anywhere, and no one expects an improvement. There will be a 3.6-million bale carryover this year with a projected increase to 6 million next year.”

In addition to this, reports indicate that the current crop is looking good everywhere. Barring a major catastrophe, it looks like there will be plenty of cotton, so pricing will probably remain low as most folks in the trade expect.

A spinner, in response to this situation, commented: “If prices will firm up and hold, and we can get some of that low priced cotton, we might actually turn a profit this year.”

Actually most spinners, while delighted with the continuing downward spiral of cotton price, feel sorry for the farmer. They empathize with a person who has to buy new equipment to stay competitive but deals in a market where pricing is such that he can’t make enough money to do it.