August 3, 2006
Written by Cory Chandler
FOR IMMEDIATE RELEASE
DATE: Aug. 3, 2006
CONTACT: Cory Chandler, firstname.lastname@example.org
LUBBOCK – Total bales and sales of Texas and Oklahoma spot cotton markets were up for the 2005-06 marketing year, though prices remained below those tallied during 2003-04, according to the Texas Tech University Cotton Economics Research Institute.
Using the institute’s Daily Price Estimation System, researchers also found that overall quality in spot markets improved during 2005-06 over the previous marketing year. The marketing year lasts from Aug. 1 to July 31.
Their report summarizes the price, premium and discount estimates for the 2005-06 marketing year based on spot market transactions throughout the West Texas and East Texas/Oklahoma regions. They found that combined total bales and total sales in the two regions were higher, with increased sales in the two regions.
The average cotton spot price for the 2005-06 marketing year was 47.60 cents a pound, about 31 percent higher than its 2004/05 level. The total number of bales per sale rose from 108.47 to 127.3 bales per sale, representing the fifth crop year in a row where average bales-per-sale rates increased. The total volume of transactions for the 2005/06 marketing year amounted to 10,516, with a total of 1,338,764 bales sold.
The Daily Price Estimation System is a computerized price analysis system that estimates the relationship between spot price in these two regions with nine cotton quality attributes as defined by the U.S. Department of Agriculture. Attributes include fiber length, fiber strength, fiber length uniformity, leaf content and color grade.
Research was conducted by professors Sukant Misra and Don Ethridge along with
Mohamadou Fadiga, a post-doctoral research associate. The Plains Cotton Cooperative Association and DTN Cotnet cooperated in obtaining the data.
Access the report at: http://www.aaec.ttu.edu/DPES/2006 CROP REPORT .pdf
CONTACT: Dr. Sukant Misra, associate dean for research, College of Agricultural Sciences and Natural Resources, Texas Tech University, at (806) 742-2808, or email@example.com