Mp_cn206 December 5, 2025 Weekly Cotton Market Review Spot quotations averaged 19 points higher than the previous week, according to the USDA, Agricultural Marketing Services Cotton and Tobacco Program. Quotations for the base quality of cotton (color 41, leaf 4, staple 34, mike 35 - 36 and 43-49, strength 27.0 - 28.9, and uniformity 81.0 - 81.9) in the seven designated markets averaged 61.00 cents per pound for the week ending Thursday, December 4, 2025. The weekly average was up from 60.81 cents last week but down from 66.49 cents reported in the corresponding period a year ago. Daily average quotations ranged from a high of 61.28 cents on Friday, November 28 to a low of 60.54 cents on Thursday, December 4. Spot transactions reported in the Daily Spot Cotton Quotations for the week ended December 4 totaled 50,783 bales. This compares to 28,079 reported last week and 31,594 bales reported the corresponding week a year ago. Total spot transactions for the season were 210,273 bales compared to 216,856 the corresponding week a year ago. The ICE March settlement price ended the week at 64.08 cents, compared to 64.57 cents last week. Southeastern Markets Regional Summary Spot cotton trading was moderate. Supplies and offerings were moderate. Demand was moderate. Average local spot prices were firm. Trading of CCC-loan equities was inactive. No interest in forward contracting was reported. Mostly cloudy to overcast conditions dominated the weather pattern across the lower Southeast with periods of rain. Daytime high temperatures were in the 40s and 50s, with nighttime lows dipping into the 30s. Widespread showers brought drizzling rainfall to areas throughout the region during the week. Precipitation totals measured one to three inches in areas across Alabama, the Florida Panhandle, and Georgia. The moisture improved droughty conditions, according to the U.S. Drought monitor. The wet weather delayed harvest and fieldwork activity. Gins continued to process backlogs of modules on gin yards. Mostly cloudy conditions with occasional rainfall was observed across the upper Southeast during the period. Daytime high temperatures were mostly in the 40s and 50s. Nighttime lows were in the 30s and 40s. Widespread shower activity brought moderate rainfall to cotton growing areas of the eastern Carolinas and Virginia. Weekly accumulated precipitation totals measured from one to three inches. The wet weather improved soil moisture, but delayed harvest and fieldwork activity. Gins continued to process backlogs of modules. Textile Mill Domestic mill buyers inquired for a moderate volume of color 31, leaf 3, and staple 36 and longer for January through October 2026 delivery. No sales and no additional inquiries were reported. Yarn demand was moderate. Mill buyers maintained a cautious undertone as they balanced raw cotton orders with finished product demand. Demand through export channels was moderate. Agents for mills in Mexico inquired for a moderate volume of color 41, leaf 4, and staple 33 and longer for January/February 2026 delivery. Trading • A light volume of color 41, leaf 3 and 4, staple 37 and 38, mike 43-49, strength 30-33, and uniformity 81-83 sold for around 68.50 cents per pound FOB car/truck, Georgia terms (Rule 5, compression charges paid, 30 days free storage). • A heavy volume of color 31 and 41, leaf 3 and 4, staple 35 and longer, mike 37-42, strength 29-32, and uniformity 80-83 sold for around 67.00 cents, same terms as above. • A moderate volume of color 41 and 51, leaf 3 and 4, staple 35-37, mike 43-52, strength 30-33, and uniformity 80-83 sold for around 64.50 cents, same terms as above. South Central Markets Regional Summary North Delta Trading of spot cotton and CCC-loan equities was inactive. Supplies of available cotton were light. Demand was very light. Average local spot prices were firm. Business activities were very slow as producers waited for price trends to match firm basis trends. Market trends were observed to be lower this week compared to the previous week. In the Mid-South, cloudy skies persisted most of the reporting period. A mix of sleet and snow migrated through areas in Missouri. Steady rain showers started the week with cool seasonable weather. Precipitation totals measured from trace amounts to around three-quarters of an inch of rain. Daytime high temperatures were in the 30s and 40s. Nighttime lows were in the 20s to 40s. According to the National Weather Service, a mixture of wintry weather consisting of freezing rain and sleet is expected in the nearby forecast in Arkansas, Missouri, and Tennessee. Fieldwork was complete in most territories and was hampered in other locales by saturated fields and wintry climatic conditions. Some gins in Tennessee have completed operations, while others expect to finish within the next reporting period. Soil moisture was restored in Arkansas, Missouri, and Tennessee. Cotton continued to be placed into the loan. South Delta Trading of spot cotton and CCC-loan equities was inactive. Supplies of available cotton were light. Demand was very light. Average local spot prices were firm. Business activities were very slow as producers waited for price trends to match firm basis trends. Mostly cloudy skies prevailed during the reporting period. Daytime high temperatures were mostly in the 40s and 50s. Nighttime lows were in the low to mid-30s. Mid-week daytime highs pivoted, while overnight lows reached its lowest level. Throughout the duration of the week periods of rain turned into steady rainfall. Precipitation totals measured from trace amounts to around one and one-half inches of moisture. No fieldwork was reported. Small drought improvements were observed in Louisiana and Mississippi. According to the U.S. Drought Monitor report, the cumulative percentage of areas with no drought reported was at 31.84 percent compared to 25.95 percent the previous week. Ginning operations continued to make headway on completion. Cotton continued to be placed into the loan. Market trends were observed to be lower this week compared to the previous week. Trading North Delta • No trading activity was reported. South Delta • No trading activity was reported. Southwestern Markets Regional Summary East Texas-South Texas Spot cotton trading was moderate. Supplies and producer offerings were moderate. Demand was light. Average local spot prices were steady. Producer interest in forward contracting was light. Trading of CCC-loan equities was inactive. Foreign mill inquiries were light to moderate. Interest was best from India, Pakistan, Turkey, and Vietnam. In East Texas, cloudy and rainy weather lingered in the region. A cold front entered the territory in the beginning of the reporting period, dropping daytime high temperatures into the upper 40s to the upper 50s from the 70s. Nighttime temperatures were in the 30s to the 50s. Accumulated moisture totals ranged from trace amounts up to over one inch of precipitation during the week. Standing water in already soggy fields slowed fieldwork progress. Ginning operations were winding down in the Blackland Prairies and Brazos River Bottoms. A trend of wet weather persisted across much of the Upper Coast and Coastal Bend areas of South Texas, while mostly overcast and dry conditions prevailed in the lower Rio Grande Valley (RGV). Daytime high temperatures fluctuated from the 50s early in the week to the upper 70s throughout the remainder of the period. Nighttime lows ranged from the 40s to the 60s. Showers produced moisture totals varying from trace amounts in the RGV up to over three-quarters of an inch in areas of the Upper Coast. Areas of the RGV remain dry, and any rainfall received will be beneficial to building soil moisture for the next planting season in the RGV and South Texas. Most gins have completed the season. Producers weighed options for the coming season, and some were waiting to purchase fertilizers due to increased input costs and low market prices. Fields in the RGV have been prepared for winter and rows have been shaped. Standing water and muddy field conditions slowed fieldwork. West Texas-Kansas-Oklahoma Spot cotton trading was active. Supplies and producer offerings were heavy. Demand was moderate. Average local spot prices were weak. Forward contracting was completed for the season. Trading of CCC-loan equities was active. Foreign mill inquiries were light to moderate. Interest was best from India, Pakistan, Turkey, and Vietnam. A strong cold front entered the region and in Texas daytime temperatures were in the upper 30s to low 70s, and nighttime lows fell into the teens to 50s. Foggy, windy conditions disrupted harvesting early in the period and brought around two inches of rainfall to the Rolling Plains. Locales in the Panhandle experienced icy conditions late-period. Harvest progress was estimated over 90 percent completed. Modules lined the edges of fields and filled the gin yards. Ginning services continued without interruption. Despite industry excitement for the high yielding and quality cotton crop, local reports indicated that some fields were abandoned and released for insurance purposes. In Kansas, daytime temperatures ranged from the low 30s to mid-40s, while overnight lows fell into the teens to the 40s. A cold front delivered light snow at some locations, temporarily halting harvesting activities. Some fields remained muddy. Harvest progress was estimated at 50 to 90 percent completed, depending on location. Ginning operations remained steady. Crop quality began to show the effects of rainfall received earlier in November. In southwestern Oklahoma, daytime highs were in the low 30s to low 50s and overnight lows ranged from the 20s to 50s. Harvesting progressed. Local sources reported that roughly 90 to 95 percent of the crop had already been placed in modules, depending on location. Ginning operations continued at a steady pace. Trading East Texas/South Texas • Lots containing a moderate volume of color 31 and better, leaf 2-4, staple 36-38, mike 41-46, strength 28-36, and uniformity 79-84 sold for 62.00 to 62.50 cents per pound, FOB warehouse (compression charges not paid). • Mixed lots containing a heavy volume of color 21 and 31, leaf 2 and 3, staple 34-37, mike 43-53, strength 28-34, and uniformity 80-83 sold for 55.25 to 58.00 cents, same terms as above. • Lots containing a light volume of color 13, leaf 2 and 3, staple 32-34, mike 26-29, strength 25-28, and uniformity 75-79 sold for 42.50 to 45.00 cents, same terms as above. West Texas, Kansas, & Oklahoma • In Texas, even-running lots containing a heavy volume of color 11 and 21, leaf 3 and better, staple 36-38, mike 38-46, strength 29-37, and uniformity 78-83 sold for 63.50 to 64.50 cents per pound, FOB car/truck, (compression charges not paid). • Mixed lots containing a heavy volume of color 42 and better, leaf 6 and better, staple 35-37, mike 33-46, strength 29-35, uniformity 78-82 and 25 percent extraneous matter sold for 58.75 to 61.00 cents, same terms as above. • In Kansas, a lot containing a light volume of mostly color 32 and 42, leaf 3-6, staple 38 and 39, mike averaging 40.8, strength averaging 33.5, uniformity averaging 82.3, and 25 percent extraneous matter sold for around 53.50 cents, same terms as above. • In Oklahoma, lots containing a heavy volume of color 21 and better, leaf 1 and 2, staple 36, mike 37-43, strength 29-32, and uniformity 79-82 sold for 63.50 to 64.00 cents, same terms as above. • Mixed lots containing a heavy volume of color 32 and better, leaf 4 and better, staple 35-39, mike 40-48, strength 29-37, and uniformity 82-85 sold for 60.00 to 63.00 cents, same terms as above. • A heavy volume of CCC-loan equities sold for 2.00 to 5.25 cents. Western Markets Regional Summary Desert Southwest (DSW) Spot cotton trading was slow. Supplies and producer offerings were light. Demand was light. Producer interest in forward contracting was light. Average local prices were firm. No domestic mill activity was reported. Foreign mill inquiries were light. Throughout the DSW, weather conditions were mostly sunny. Daily temperatures were in the 60s and 70s, with nighttime lows in the 30s and 40s. Scattered rain showers were hit or miss throughout the territory. No significant amount of rainfall was recorded. In Arizona, harvesting was almost completed and gins continued full steam ahead. Producers were encouraged by the good quality grades received. According to the Visalia Classing Office Quality report, 58,919 bales of Arizona cotton had been classed by December 4. In addition, 6,494 bales were classed from New Mexico and West Texas areas within the DSW market. San Joaquin Valley (SJV) Spot cotton trading was inactive. Supplies and demand were light. No domestic mill activity was reported. Average local prices were firm. Foreign mill inquiries were light. Cloudy skies and dense morning fog dominated the weather pattern during the period in the San Joaquin Valley. Daily temperatures cooled into the 40s, with nighttime lows in the 30s and 40s. No significant amount of rain was recorded during the period. Cotton producers were pushing to finish fieldwork before the December 10 deadline established by the California Pink Bollworm Program. Gins continued pressing operations. On December 1, the Department of Water Resources announced an initial 10 percent allocation from the State Water Project for 2026. This is higher than last year’s starting point of 5 percent. As of December 2, the Sierra Nevada snowpack stood at just 41 percent of normal. American Pima (AP) Spot cotton trading was inactive. Supplies were moderate. Demand was light. No domestic mill activity was reported. Average local spot prices were steady. Foreign mill inquiries were light. In the San Joaquin Valley, weather conditions were mostly cloudy with cooler atmospheric conditions. Daily temperatures were in the 40s, with nightly lows in the 30s and 40s. No rain was reported in the period. With harvest season winding down, growers raced to wrap up winter field preparations in advance of the California Pink Bollworm Program’s December 10 deadline. Gins continued multiple shift operations. On December 1, the Department of Water Resources announced an initial 10 percent allocation from the State Water Project for 2026, this is higher than last year’s 5 percent starting point. As of December 2, the Sierra Nevada snowpack measured just 41 percent of normal. In the DSW, skies were mostly sunny with daily temperatures in the 60s and 70s. Nightly lows were in the 30s and 40s. No significant amount of rainfall was recorded. Harvest activities continued in some areas while others have wrapped up for the season. Ginning operations continued. The Visalia Classing Office classed 193,596 bales of Pima as of December 4. Trading Desert Southwest • No trading activity was reported. San Joaquin Valley • No trading activity was reported. American Pima • No trading activity was reported.