The US Agriculture Department set the prevailing world market price for upland cotton at 33.61 cents per pound, effective through January 6. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton. USDA cotton export sales highlights for latest reporting week:

Net Upland sales of 244,500 RB were 57 above the week earlier and 7 percent over the prior 4-week average. The primary buyers were Turkey (68,400 RB), China (64,100 RB), Japan (18,000 RB), Ecuador (18,000 RB), Taiwan (17,100 RB), South Korea (12,300 RB), Mexico (12,000 RB), and Thailand (10,300 RB).

Exports of 148,500 RB were 31 percent under the previous week and 16 percent below the prior 4-week average. The primary destinations were China (32,800 RB), Turkey (21,700 RB), South Korea (17,100 RB), Mexico (15,400 RB), and Indonesia (13,000 RB).

Net American Pima sales of 23,900 RB were mainly to Pakistan (7,000 RB), China (6,900 RB), and India (3,300 RB).

Exports of 28,500 RB were primarily to Pakistan (9,300 RB), China (6,400 RB), Taiwan (3,100 RB), India (2,200 RB), and Indonesia (2,000 RB).

Copyright Reuters, 2005