** Due to Government Shutdown AWP prices and Export Sales are not included in this issue.** Mp_cn206 October 24, 2025 Weekly Cotton Market Review Spot quotations averaged 45 points higher than the previous week, according to the USDA, Agricultural Marketing Service’s 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 60.14 cents per pound for the week ending Thursday, October 23, 2025. The weekly average was up from 59.69 cents last week, but down from 66.10 cents reported in the corresponding period a year ago. Daily average quotations ranged from a high of 60.42 cents on Tuesday, October 21 to a low of 59.74 cents on Wednesday, October 22. Spot transactions reported in the Daily Spot Cotton Quotations for the week ended October 23 totaled 4,849 bales. This compares to 2,547 reported last week and 14,664 bales reported the corresponding week a year ago. Total spot transactions for the season were 55,280 bales compared to 83,822 the corresponding week a year ago. The ICE December settlement price ended the week at 64.07 cents, compared to 63.73 cents last week. Southeastern Markets Regional Summary Spot cotton trading was slow. Supplies and offerings were light. Demand was moderate. Average local spot prices were firm. Trading of CCC-loan equities was inactive. No interest in forward contracting was reported. Plentiful sunshine was observed across the lower Southeast during much of the period. Daytime high temperatures were mostly in the 80s, and nighttime lows were in the upper 40s to low 50s. Widespread rainfall brought moisture to areas throughout Alabama and the Florida Panhandle. Weekly accumulated precipitation totals measured from trace amounts to two inches of moisture. The crop advanced and bolls were cracking open across the region. In areas where dry conditions allowed, growers applied defoliants and harvesting was underway. Producers reported better than anticipated yields of 800 to 900 pounds per acre on dryland fields and up to 1,500 pounds per acre on irrigated acreage. Modules were accumulating on gin yards and ginning expanded. The Macon Classing Office added a second shift to classing operations. Sunny and clear conditions dominated the weather pattern across the upper Southeast during the period. Daytime high temperatures were in the 70s. Nighttime lows were in the 40s. No rainfall was recorded across cotton growing areas of the eastern Carolinas and Virginia during the week. Bolls were cracking open across the region and producers applied harvest aid chemicals. Harvesting had begun in the Carolinas and modules were accumulating on gin yards; ginning was underway. Textile Mill Domestic mill buyers inquired for a moderate volume of color 51 and better, leaf 4 and better, and staple 32 and longer for June through December 2026 delivery. No sales and no additional inquiries were reported. Yarn demand was moderate. The undertone from mill buyers remained cautious as they balanced raw cotton orders with finished product demand. Demand through export channels was moderate. Agents throughout the Far East inquired for any discounted styles of raw cotton. Trading • A moderate volume of color mostly 31 and 41, leaf mostly 2 and 3, staple 36 and 37, mike 43-52, strength 29-32, and uniformity 82-84 sold for around 68.75 cents per pound, FOB car/truck, Georgia terms (Rule 5, compression charges paid, 30 days free storage). 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. There was a light interest in forward contracting. Business remained slow. Partly cloudy skies characterized the weather pattern throughout the reporting period. Daytime high temperatures were in the low 80s. Overnight lows were in the 60s and 50s. Strong cold fronts with heavy winds migrated through the region dropping daytime highs into the 60s and nighttime temperatures into the low 40s. A scattered thunderstorm brought approximately one and one-half inches of rain over the weekend. Rainfall restored moisture to the soils. According to the U.S. Drought Monitor report released on October 23, all drought activity has improved tremendously from severe to mostly abnormal to moderate drought in Arkansas and Tennessee. Abnormal to extreme drought was reported in Missouri. Harvesting and other field activities continued to gain momentum throughout the Mid-South. Although defoliation is complete in most of the territory, local sources have reported a second round of defoliation in some areas. Yields are slightly off from expectations compared to last year’s production. Modules accumulated on gin yards. Gins continued pressing operations in Arkansas, Missouri, and Tennessee. According to the Weekly Cotton Quality report for the week ending October 23, the Memphis Classing Office has classed 453,458 bales and the Dumas Classing Office has classed a total of 304,997 bales for the season. There are 32 gins operating in Dumas, and 61 gins operating in Memphis. Virtual and in person industry meetings were planned and attended at state and national levels. 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. There was a light interest in forward contracting. Business remained slow. Daytime temperatures were in the low 70s to 80s. Nighttime lows were in the 40s and 50s. Partly cloudy skies were prevalent during the reporting period. Heavy wind gusts pushed through parts of Louisiana and Mississippi. Precipitation totals measured from trace amounts to three inches of rainfall over the weekend. According to the U.S. Drought Monitor report released on October 23, topsoil moistures remained the same ranging from abnormal to moderate drought in Louisiana and Mississippi. Fieldwork was being done. Some growers have completed harvest and other producers continued to make good headway with field activities. In Louisiana warehouses continued to store cotton. Modules continued to accumulate on gin yards. According to the Weekly Cotton Quality for the week ending October 23, the Rayville Classing Office has classed a total of 113,087 bales for the season. There are 13 gins operating in Rayville by office. A few gins gained momentum by state. As of October 23, 11 gins were operating in Louisiana and 29 gins were operating in Mississippi. Virtual and in person industry meetings were planned and attended at state and national levels. 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 moderate. Average local spot prices were firm. Producer interest in forward contracting was light. Trading of CCC-loan equities was inactive. Foreign mill inquiries were moderate. Interest was best from India, Pakistan, Turkey, and Vietnam. Dry and sunny weather conditions prevailed throughout the period in areas of the Blackland Prairies and Brazos River Bottoms. Daytime high temperatures were in the low to mid-90s, and overnight temperatures were in the 50s to the low 70s. Chances for significant rainfall were in the forecast for the weekend as a storm system is expected to move across the region. The harvest season has concluded for many producers in the Blackland Prairies, and many others anticipate they will finish soon, barring any weather interruptions. Producers in the Brazos River Bottoms continued their harvest efforts, with local experts estimating 75 to 80 percent of the crop has been harvested. Gin yards remained stocked, and operations continued at full capacity to process modules in a timely manner. In South Texas, light showers were received in the Upper Coast, while areas of the Coastal Bend and lower Rio Grande Valley were mostly sunny and partly cloudy. Daytime high temperatures were in the mid-to-upper 80s, with overnight low temperatures in the mid-60s to the upper 70s. Chances for thunderstorms were in the forecast for the weekend as a storm system is predicted to migrate through the Coastal Bend and Upper Coast areas. Gins continued to work through modules accumulated on yards. Some gins have finalized their season and are now in preparations for the off-season. The remaining gins are estimated to complete operations in the next three weeks, according to local experts. Light shipping slowdowns were reported out of warehouses in South Texas. West Texas-Kansas-Oklahoma Spot cotton trading was slow. Supplies and producer offerings were moderate. Demand was light. Average local spot prices were firm. Producer interest in forward contracting was light. Trading of CCC-loan equities was slow. Foreign mill inquiries were moderate. Interest was best from India, Pakistan, Turkey, and Vietnam. Texas experienced fluctuating weather, with temperature highs in the 70s to 90s and lows in the 40s to 70s, as three mild cold fronts passed through during the period. Some areas received about one-quarter of an inch of rain. Harvesting progressed, and modules were transported to gin yards. Insurance adjusters evaluated fields and some were abandoned. Weed specialists advised producers to manage resistant weeds along field edges to prevent 2026 weed issues. Meetings were conducted. Daytime highs in Kansas fluctuated from the low 70s to low 80s, with overnight lows in the 20s and 50s. A cold front brought cooler temperatures and scattered thunderstorms that delivered a light amount of rain. Heavy rainfall was in the nearby forecast. Bolls continued opening slowly across the region, Producers remained hopeful for dry, open weather allowing the crop to finish. Reports indicate a tremendous boll load spurring optimism for a high yielding harvest. Warm days and mild nights prevailed across Oklahoma, with daytime highs in the low 70s to low 90s and overnight lows in the 40s to 60s. Harvesting activities continued despite cooler temperatures and light rainfall. Rainfall was in the nearby forecast. Modules were trucked to gin yards. Trading East Texas/South Texas • A heavy volume of color 11-41, leaf 1-4, staple 36-40, mike 36-48, strength 28-37, and uniformity 80-84 sold for 63.25 to 65.00 cents per pound, FOB warehouse (compression charges not paid). • A moderate volume of color 53 and better, leaf 3-6, staple 34-38, mike averaging 35.9, strength averaging 30.5, and uniformity averaging 80.2 sold for around 52.50 cents, same terms as above. West Texas, Kansas, & Oklahoma • In Texas, an even-running lot containing a light volume of new-crop cotton color 11, leaf 1 and 2, staple 33, mike 39-42, strength 23-28, and uniformity 77-81 sold for around 54.25 cents per pound, FOB car/truck, (compression charges not paid). • In Oklahoma, a mixed lot containing a light volume of cotton color 11 and 21, leaf 3 and better, staple 38-39, mike 35-42, strength averaging 33.1, and uniformity averaging 81.9 traded for around 65.00 cents, same terms as above. • A light volume of CCC-loan equities traded for 0.10 to 1.00 cents. Western Markets Regional Summary Desert Southwest (DSW) Spot cotton trading was inactive. Supplies and producer offerings were light. Demand was light. Producer interest in forward contracting was light. Average local spot prices were firm. No Forward contracting or domestic mill activity was reported. Foreign mill inquiries were light. Sunny to partly cloudy skies were prevalent throughout the report period. Daytime highs were in the upper 80s to lower 90s, with nighttime lows ranging from the 40s to 60s. No significant amount of moisture was recorded. Defoliation and picking expanded in central and eastern Arizona. Modules were trucked to gin yards. Ginning is expected to commence around the first week of November. In Yuma, AZ, ginning continued uninterrupted. In New Mexico and El Paso, TX, sunny to partly cloudy conditions were prevalent. Daily temperatures were in the 80s, with nightly lows in the 50s and 60s. Producers were defoliating and harvesting fields. Ginning commenced on a limited scale. San Joaquin Valley (SJV) Spot cotton trading was inactive. Supplies and demand were light. No forward contracting or domestic mill activity was reported. Average local spot prices were firm. Foreign mill inquiries were light. In the SJV, sunny skies prevailed. Daily temperatures were in the 60s and 70s, with nightly lows in the 40s and 50s. Scattered showers swept through the territory bringing over one-half inches of rain. Wet conditions put a brief halt on harvest operations, which resumed as soon as conditions were favorable. Sources estimate the crop to be at or a little above average. Yields around 3 bales per acre have been reported. Modules were trucked to gin yards. Ginning commenced on a limited scale. American Pima (AP) Spot cotton trading was inactive. Supplies were moderate. Demand was light. No forward contracting or domestic mill activity was reported. Average local spot prices were steady. Foreign mill inquiries were light. In the San Joaquin Valley, daily temperatures were in the 60s and 70s. Rain showers produced around one-half inches of rainfall. Harvesting was briefly hindered due to wet conditions, but resumed quickly. Yields around 3 bales per acre have been reported. Ginning expanded. Sources reported that yields are projected to be above average this season. Weather conditions in Arizona were sunny to partly cloudy. Daytime temperatures were in the 80s and 90s, with nighttime lows in the 40s to 60s. Harvest and defoliation activities continued. Ginning continued. In New Mexico and El Paso, TX, sunny to partly cloudy conditions were prevalent. Daily temperatures were in the 80s, with nightly lows in the 40s and 50s. Scattered showers produce less than one-quarter of an inch of rain. Producers were defoliating and harvesting fields. Ginning commenced on a limited scale. Trading Desert Southwest • No trading activity was reported. San Joaquin Valley • No trading activity was reported. American Pima • No trading activity was reported.