The Cotton situation

MISSING IMAGE

Material Information

Title:
The Cotton situation
Physical Description:
v. : ; 27 cm.
Language:
English
Creator:
United States -- Dept. of Agriculture. -- Economic Research Service
United States -- Agricultural Marketing Service
United States -- Bureau of Agricultural Economics
Publisher:
Economic Research Service, U. S. Dept. of Agriculture.
Place of Publication:
Washington, D.C.
Frequency:
five no. a year
bimonthly[ former may 1961-]
irregular[ former 1945/46-mar. 1961]
monthly[ former 1936-1944]
quarterly
completely irregular

Subjects

Subjects / Keywords:
Cotton trade -- Statistics -- Periodicals   ( lcsh )
Cotton trade -- Periodicals   ( lcsh )
Genre:
federal government publication   ( marcgt )
statistics   ( marcgt )
periodical   ( marcgt )

Notes

Dates or Sequential Designation:
CS-1 (Nov. 1936) -
Dates or Sequential Designation:
Nov. 1936-Apr. 1975.
Dates or Sequential Designation:
Ceased publication in Apr. 1975.
Issuing Body:
Issued by: U.S. Bureau of Agricultural Economics, 1936-Oct. 1953; by: Agricultural Marketing Service, Nov. 1953-Mar. 1961; by: Dept. of Agriculture, Economic Research Service, May 1961-Apr. 1975.
Issuing Body:
Issues for 1936-Oct. 1953 published by the U. S. Bureau of Agricultural Economics; Nov. 1953-Mar. 1961 by the Agricultural Marketing Service; May 1961-Apr. 1975 by the Dept. of Agriculture, Economic Research Service.

Record Information

Source Institution:
University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
aleph - 020142316
oclc - 01768374
lccn - 63045282
Classification:
lcc - HD9070.1 .C78
System ID:
AA00013000:00023

Related Items

Preceded by:
World cotton prospects
Preceded by:
World cotton prospects
Succeeded by:
Cotton and wool situation
Succeeded by:
Wool situation
Succeeded by:
Wool situation
Succeeded by:
Cotton and wool situation
Related Items:
Statistics on cotton and related data


This item is only available as the following downloads:


Full Text

A 34 *.40 5.'jj 7, A---





THE DEPOSITOR



SITUATION

BUREAU OF AGRICULTURAL ECONOMICS
UNITED STATES DEPARTMENT OF AGRICULTURE

CS-50 DECEMBER 1940




COTTON CONSUMPTION IN THE UNITED STATES. 1913-39
RUNNING
BALES
(MILLIONS) / on1o co l'aow' SfSr'es
j Co/ion jrownefl S'tes
8 --



6 -- '

5




2



1913 1915 1917 1919 1921 1923 1925 1927 1929 1931 1933 1935 1937 1939
YEAR BEGINNING AUGUST
US DEPARTMENT OF AGRICULTURE < ggaE. E a m tlu ti IC':



COTTON CONSUMPTION IN THE UNITED STATES HAS FLUCTUATED
BETWEEN 5 AND 8 MILLION BALES PER SEASON SINCE 1913-14. BOTH
OF THESE EXTREMES OCCURRED WITHIN THE LAST TEN YEARS. THIS
SEASON DOMESTIC CONSUMPTION IS EXPECTED TO EXCEED 8-1/2
MILLION BALES. FACTORS CONTRIBUTING TO THIS PROSPECTIVE
RECORD HIGH LEVEL OF COTTON CONSUMPTION INCLUDE THE GENERAL
IMPROVEMENT IN INDUSTRIAL PRODUCTION, INCREASED FACTORY EM-
PLOYMENT, LARGER CONSUMER PURCHASING POWER, AND LARGE GOVERN-
MENT PURCHASES OF COTTON TEXTILES FOR NATIONAL DEFENSE PUR-
POSES.







OS-50


- 2-


THE


TTON


TU


ATI


ON


-IIIMI^ P --- Summary

Summary


seasonally


adjusted


index


cotton


con sumD t ion


United


State s


rose


an all-time


high


percent


1935-39


ave rage


dur-


November.


actual


quantity


cotton


con su med.


C7'c, ooo


bales),


how-


ever,


was


slightly


wsma1er


than


March


1937


October


19140.


differ-


ence


was


more


than


offset


stieasional.


adjustments


smaller


numleor


working


large


dayis


evenv


in N member.


though


Domestic


production


manufc-cturers l


excCeeded


backlog


mri.nufacturers


orders


sales


still


unfinished


goods


each


last


weeks.


Mill


activity


oxoected


continue


about


pre sent


level


rnxt


wee'i:. S


current


rate


con--


sumption


seacsO


co nt inue

n will mrr


tifroughot


t reallyy


remainder


exceed


million


the season,

b.tles, Th


consumption for

pr vious record


high


noriod
totad

total'A


just


Exports


a year

loss


under


S million


continue

earlier,


th an


Lid

fo


balcs

about

r the


established


four-fifths


first


corrcsnondini.


ono-th ird


months


1936-37.


tho o of the e

the current sasoon

seaCson since 1I


Eo o rt s


those


from

the


Brazil

same pa


t:roui:h


riod


October


a ycei.r


woreC


earlier.


reduced

Brazil


loss

has


tfh ~

ai road,


:1

one-tird? &Low


Cdl/r,


F_. CLcm






cs-50 3 -

Mill activity in the United Kingdonm !-as been fairly well ::airtained

S so far this season despite certain adjuqtmcnntc in bbe industry to -iect nar

conditions. Mill activity in Canada continued-. nih into Zecrb e r, 1but

Japanese mill activity has gradually decreased in an att-em-t to tring cr1-

duction in line with current sales of textile ard thereby pr-.vmtt further

accumulation of stocks.

D- DcCcrrb.r 27, 19'4


As a means of makirng The Cotton Situ tln of 'rec.ter u-se
:to its readers, a larrgr number of tabl-es. cent iini,.' bdcic datr :
Swill be included at the back of the issues. Tiheso tablr will :
: be desi.n-1d Trinar.ly to su-- nlor .t, or to rri;' to d::t., the
S tables contained in "Statistics o:. CAttr.n ..r R:ll-t..l D-'ta", :
S120-prge processed rrort rule: s.--d il Dcembzr 17"9. Copies of :
Sthe latter rciort may be obtained b:y--:ritiiig tr,' the .vi.nio1n of
SEconomic Infor..r.tion, Bure.a of Arricultl..rl Econ:ics, Trash-
ington, D. 0.


PRIICES

S United States: Snot and futures prices
remain steady

Spot and futur-s prices rcmained stc-idy during late Novembcr a.nd
December. During this period the averaUe r- '-ic of Iiddir..ig 15/16 inch
cotton in the 10 desimnat..d markets flucti1..td-'. within rath..r narrow limits.
The low point for the omer.h of 9.71 c.'rts v a.:. r ac'.ed on 'ovembi r "50, rnd
the high point of 9*?- cents was reached ,.t tho cl-ose) c th..; first week of
December. On Doce:Sbcr 26 th'. avLTr.rvaeo ,ric:. '-:rse O.gh cont.. T.:s is 1.902
cents lower than on the cI'Trrsrro]LdiaLg day last secsc i. IL'turl. prices at
Now York showed general but very slight gn.i.s.

Liverpool prices: Am-'rican cotton sturdy;
Indian, Brazilian .a2.n ; Egynti--n declines

On December 20 the price of Amnric-ai Middli::g c.-,tnn at Livnrpcol was
0.09 cent higher then on ITovemb-r 22. Duri:n- th,' saie p,:riod Ir.di;- Fine
Oomr- increased one-fourth count per pound, and Brazilian S;..-n PF:ulo gained
nearly one-fifth cent. As a result the sprood bet'-cen Am r] canr. and Indian
cotton narrowed and prices of Brazilian cotton at Livcrrnool cqnalcd or ex-
ceeded those of American cotton throuc-hont the month. The prices of Eg-ytian
cotton underwent a decline of almost one-half cent per ne-ind.


SAmerican Middling at Liv.'rpool and at New Orleans ranged from h.09 cents to







cs-50 -

4.33 cents per pound; on December 20 it was I!..2 centq compared with 0.98
cent in Aurgust 1939. The spread in the rice of Indian cotton between Bom-'
bay and Liverpool increased from 3.93 cents on November 22 to 5.18 cents on-
December 20, when the spread was 8-1/3 times as great as in August 1939.

EXPORTS

American cotton: Exports of American cotton
O0 percent lower thpn in 1939

Exports of American cotton totaled 145,00C bales during November
compared with 195,000 bales last month and 5O,00) bales in November 1939*
For the first 4 months of the current season exports totaled 495,000 bales,
or only 21 percent of the exports during the cnrrsupondifng period last
season and the lowest total since 1&73. Of the exports during the first4.1
months of this season, aoproximately thrce-fifths went to the United Kinag
dom. This included about 120,000 bal-s of Lortor cotton.

Official data are not y.,t available on exports during December, but
reports from the Now York Cotton Exchliai.ge. show a total of 88,000 bales d.ur-
ing the 3 weeks ended December 19. Of this nJnount 41,000 bales w ~it.o.i ;
Russia, 21,000 to Canada, 16,000 to Great Britain, and 8,000 to both JSi& ii .:i
and China.

Egypt: Destination of Egyptian cotton
exports no longer released

A cable recently received from Egypt indic:.tos thnt beginning in
November the destination of cotton e.poorts will no longer be reported. :
Total exports per month are still available, .d thoy reveal that 75,00 '
bales were exported d-arinr Nov -mb.r compnir.d with 45,.OO in October and
185,000 in November 1939. The tol.1 from August through November of 207Si00
bales of cotton was tw o- thirds smrllrr than for the same months last t401Ak

Brazil: E:-rrts lob'er than a year earlier but.. !.
relatively lrg r than American ii

IDring the first 5 months of the current s;.ason, Brazil exporte&:d .; i.i:::
237,000 bal,?s as compared with 346,0.'O br.les dr.ri-1 the corresponding ph':ii:
iod last season. Though smaller thin those of a y,"nr ago, Brazills export,"
aro relatively larger than thoce from mist other imrnortant exporting coi!!i
tries. Jr.p.:'.- h.s been the largest customer this season, taking 122,000 *'
bales throw;h October. China is next with 40,000 bales, followed by GaAiatl
and thu United Kingdom with 39,000 rid 29,000 bales respectively. Durbii:*i'
the remainder of the season, oxports from Brazil to the United Kingdom -1.%I
probably be larger as a result of an --gree-,cnt reo-ortedly reached recenfyt. ii
by the Wellingden Commission ar.d the Brazilian Gvov arment to provide ratbfv;i
large monthly quotr.s of Brazilian cotton f-r import into the United King&@fEB
As may be seen in the table on Brazil;ian exports which appears near thei4.- iiI
of this issue, by th.e end of October Brazil had exoortId. almost twice as '
much cotton to Canada as was exported to that country during all of last ',
season. ''

.::":'I I[
.. ..







CS-50


DEIAND AND CONSUMPTION

United StatRes: Domestic oonsumption continues high;
mill acti-Fity maintained through Christias season

During November, consumption of raw cotton totaled 744,000 bales as com-
pared with 771,000 bales in October and 719,000 bales in November 1939. This
raised the total consumed in the United States during the 4 months ended
November 1940 to 2,809,000 bales compared with 2,660,000 bales during the cor-
responding period last season. Both the November consumption and the total
consumption for the 4 months were higher than in any corresponding period on
record.

The decrease over October was more than offset by the smaller number of
working days in November, with the result that the seasonally adjusted index
of cotton consumption stood at 135 percent of the 1935-39 average. This is
from 9 to 11 points higher than in October 1940 or November 1939, and 6 points
above the previous record high of June 1933.

The backlog of unfilled orders is apparently still quite large despite
the fact that for 6 successive weeks manufacturers' sales of unfinished tex-
tiles have lagged behind production. Trade comments indicate that mill activ-
ity continued high through the first 3 weeks of December, with most mills plan-
ning to resume operations on December 26 instead of taking the longer vacation
which is customary in the industry. If the present level of consumption con-
tinues, it appears likely that a new high record of at least 8-1/2 million
bales will be made this season.

Canada: Canadian mills operating at high
level but their backlog of orders decreasing

Reports from Canada indicate that mill activity continues at a near-
record level, but there are some indications that the backlog of orders through-
out the industry is becoming smaller. In some cases, mills are thought to
operate on current orders. Nevertheless, it is believed that additional mili-
tary orders will be sufficient to hold the rate of production somewhere near
the present level for some time to come. It is thought that stocks of American
cotton decreased by about one-half during the last 3 months and that Brazilian
stocks increased.

Canada continues to take much greater quantities of Brazilian cotton
than formerly, most of it at the expense of the American staple. In the middle
of November American cotton was priced nearly 2 cents per pound above Brazilian,
with the result that there is little interest in purchasing American cotton.
This is true despite some narrowing of the price spread between the two growths
in recent months.

Activity in lines of textiles other than cotton is also much greater
than formerly. I,,ost synthetic fiber plants were reported to be operating at
full capacity, and it is reported that by next fall a 1-1/2 million dollar
Nylon plant on which construction is to start in the spring is scheduled to be
in operation. It is expected that the increased production of various
synthetic fibers will enable Canada to curtail the imports of silk, most of
which is now obtained from Japan,







C- 6--


United Fingdom: Froduction maintained
despite adjustments in indlusry

hill activity in the United Kingdom during the past nonth continued-at R
about the same ra.t, despite the fn.ct that considerable reas.justment in the
industry has been Jricee.ery from time to tire as a result of lwar conditions
There has been cor..idereble shifting away from the use of Aerican cotton, al
it is possible that this shift may corxtinue. The Wellington Commissacn has
reportedly reached an agreement within the past month with the Brazilian
Government for rather large monthly import quotas of Brazilian cotton. Simit
negotiations are in progress with the Governments of Argentina and Peru, but
it is not yet evident what the outcome will be.

The shifting from American cotton to other growths, particularly those
with someiv:hat different fiber characteristics, tends to reduce the efficiency
of spinning equipment& Another factor which he.s hampered production has been
the shortage of j ivenil-e labor in some lines of the spinning industry. In
spite of these difficulties, horevcr, the British mills have been able to
maintain their level of production.

As was pointed out 2 months ago, domestic consumption of textiles in
Great Britain is limited by governmental action. For a 6-mcnths period which
began October 1 sales for civilian use. of cotton and linen products are re-
stricted to from 25 to 37-1/2 percent of those during the corresponding peri.a
a year earlier. The use of raycn products was limited to 66-2/3 percent

Orient: Brazilian cotton sells in larger
quantities than Ameriben in Orient

Reports received from Shanghai indicate that 229,000 bales of cotton
were imported into China during the period August through October as compares
with 289,000 bales during the same 3 months last season. Of the amount this
season, 6 percent was American cotton co:-pared with 4 percent in the like
period last year. In contrast with this, India supplied 58 percent against
Brazil supplied 34 percent this season, but comparable data for last season .
are not available. Practically no Egyptian cotton was received this year, At
compared with 1 percent last year. The Japanese mills in Shanghai and the owl*.
cupied areas of China are running at a very low rate of production, whereas
the Chinese nills at Changhai and unoccupied areas are running near capacity,

Japan is continuing to decrease mill activity in the hope of bringing '
production in line with current demand for textiles. This is especially ,de
sirable from the standpoint of Japan, in view of the extremely large stoeok e
cotton textiles and the restrictions prohibiting the sale of goods produced
entirely from cotton on the domestic market. The consumption of American
cotton in Japan is quite low this season, and there seems little prospect o '
improvement for some time to cone. The large stocks of textiles containing
American cotton are sufficient to enable Japan to fill most orders for texti
containing American cotton from stocks rather than from current production* ,

MP:


CS-5 0






CS-50


ACREAGE, PPGDUCTTiN, STGC!S, AND STJuIFr

American cotton: 1940 loan cotton ex.cecds
2-1/2 million bales; yield per acre Iiio

Since the 1940 lonn wc.s anncarced on August 9, tl e av?-,-eo spot price
of 15/16-inch cotton in the 10 designated narkets h..s exceec'od th.e Ican rate
of 9.3 cents (straight average of loan value for i'iddl g 15/i1 in the 10
markets) by amounts ranging uo to 0.75 cent per pouc' c:-cr't for 1 dI-ay when
the snot price was b-elow the loan rate. I'everthelesr, ov1'r 2-1/2 million
bales of cotton had been pledged as collateral for GcverinmTnct loans through
December 23. The loans on this cotton totaled 125 million dollars.

The Decer.ber 1 estimate of cotton production in the Uh'.itod States vas
12,636,000 bales (of 478 pounds net veiht). This is lo.,r tl.an either of the
previous three monthly estimates, but it is wve]l above the estima.te narlde
August 1. The decrease from the past month of 161,00C0 lales, or 1 percent,
was the result of a decrease in the estimated acreea.e which :'rill be harvested
this season rather then in a reduction in the estimated yield rer acre, for
the yield figure was increased slightly to 252.4 pcunds. If this yield is
realized it vjill be the second highest on record, e..ceeded only by that in 1937.

Foreign countries: Estimate of cotton oroduction
in southern Brazil unofficiPlly revised up-rard

It is reported that Brazilian trades people expect cotton production in
southern Brazil for the 1939-40 marketing season to totcl about 1,522,000
bales (of 478 pounds net weight). This increase of 155,000 b-le, o,'er the of-
ficial estimate trade in August is largely the result of' excedingly favorable
weather during the latter part of the season. A reduction of 91,000 bales has
been made in the estimated production in the 1940"-41 sEason of northern Brazil,
where the crop is reportedly "spotty" in b.:th quality ard quantity. There is
soxe talk that the lov; prices and poor quality found to prevail in northern
Brazil may result in con-siderablo quantities being left unharvested.

Planting was delayed in Sao Paulo, where nost of the crop of southern
Brazil is grown, because of dry weather, but it }:es progressed rapidly follow-
ing rains in the latter part of Cotober. An estiv aT:e ban-d Ivrgely on the
distribution of planting seed by Government agencies in icnte. that the plant-
ings in that area mey be 10 or 15 percent larger than lest year's total of
2,839,000 acres.

The second official estimate of 1940-41 Egyptian cotton production which
has just been received places the crop at 1,922,000 bales (of 478 pounds net
weight), which is 100,000 and 200,000 bales, respectively, larger than the
production last season and the year before.

A recent cable from Argentina reported the final official estimate of
the 1939-40 crop to be 362,431 bales (of 478 pounds net weight) produced on
727,727 acres, giving an average yield of 238.1 pounds per acre.


- 7 -






Tbe l.- Cotton: Spat price per pound, specified groviths at Liverpool and Osaka, specified periods
:Liverpool, England :Osaka, Japan0
American Indian : Egyptian : Brazilian .:Ameri- : Indian
: Aercan :Fine Oomra #1: F.G.F. Uppers :Fair, Sao Paulo: can : Acola 1
Season, : .:As a : As a As a : :As a
mo&h : Mid- : Lo % of : : f of /' f of : Strict % of
or day : dling : DMi d- : Actual :Amieri-=: Actual: 1-meri-: Actual: Areri-: Midd- Actual :American
: Pair : d1ing : can : can : can : ling strict
: staple: : Mid- d : Md- : : Nid- :Middling
: : :dl in- : 1n : dli np
10yeraverage C: Crts 3 cents C'ie:t s Pot Cents Poct. C e ,t s _PoCt C e zts C ent s Pot
1927-28 to
196-7 .......: 1,4.50 13.60 11.19 78.0 17.12 117.9 1M.08 97.7 14.74 11.37 77,1
13-7 e...o..,: 14a.6 2 15.6 1.7 7. 171.40 119.0 112 9C.6 15L7 c 15'7.
= !~ ~ i H H;o .iiiii~ii H s ii iiiiiii!=! i lHHH i 4H ii iii,;~ !H iii ii ii; ;;;,i i iiii i ii ii J ii l iiiiiii i iii i 'J i i iiiii iiii l~lll ii i iH iiii ii"i ; ii i Ji J ll i1~ li iiiiii~iii !!ii iiii iH'H iii JJi ii .iii ;iiiiiiiii ii i
iiiiiiiiiiiiiiiiiiiiiiii;, i,;,;,,,,;;:, i;i; .:::~; iii l,; :r













1937-33 006061P..: 10.3.1 8.78 71.96 '77.1 13.10 31-26.7 10:18 9..8.7 12.70 9.95 78.3
iiiiii iiiiiiiiiiiiii iiiiiiiiiiiiiiiii iiiiiiiiiiiiiiiiiiiiiii~iii i iiiiiii i iiiiiiiiiiiiiiiiii






8 06: 1015 .71 7.14 70.4 11.80 116...5 9..63 94.9 ./10.89 2/ 7.86 72.2.






1939-4n ..: 12o64 11.79 C.94 78.4 ..1.76 124.1 12.49 98.6 3/ -

.u? ......e: 10o16 8.53 7.38 72.3 11.35 111.7 9.:37 92.2 3/ 3/
..ept...: 11.21. 9.? a80.56 70. 12.49Q 1-11.4- 10.71 95-.5
10 ... &1 C 7C......0 1...... 1 31 .0 1' 813 0iii ii. iii ii ii iii i







Nov. a.. 11236 1'S. 7 9 9.4G 81.1 1'2 70 10 8. 9 11.'579 09.4 //
Dec* .....s..: 14914 13.32 11.69 82.7 15.80 111,7 1.4.14 100.0 17.23 1T.29 85.3
ja ..... 14.81 14.12 12.31 881 17.50 11C.2 14:.87 100.4 3/ 3/
17 i 1 '? "'I n-I









....... 1.7 1.1 1.r9 807. 17 121 3 t9 1015 17o.86 1U'.06 72.6
14'a oe.e.o.: L30 12- I08 1. 1_17 13. 13.23 -101 .3 13.60 9.39 69.0
...... 6....4...: 13,47 12.88 IC0..7?0 79.4 17.64 1.31.0 13,..7 100.0 13.52 8.88 65.7
];.r ose..o 12 e95 12. 39 10 .2 3 79.0 1744 1341.7 12.95 100o0 1.2.82 7.67 59.8
Jun 0.46..:12,61 12.02 9.37 74.3 18.26 144o8 12.43 98.5 19.87 6.89 53.5
ju l 04*600.13025 12,60 go,16 71.4 19.5A, 14.7.5 12 .71 :95.9 12.71 7.82 61.5

NEE0-000000 115.50 18.00 9.76 72.31 20.50 15'1 .9 13 1101 S7. 0 123-31 3.37 6.0O
Sept o.* ee: 14920 13.57 10.28 72.4 21,31 150.1 13,67 96.3 12.03 84.51 70.17
Oc .....000... 13.65 12.98 10.26 74"9 20.61 152.5 13,35 97.8 3/ 3/ 3/
NOO..*0'....: 13084 12.97 10.71 77.4 20.27 146.5 13.77 99.5 7/ 7/ 7/
Fo*1 .......: 13*70 13.03 10.38 75.8 21.01 15%3. 4 13.43 98.0 V 1V IV
8 .......e: 13.80 13.13 10,63 77.0 21.08 152.8 13.62 93.7 717/ 0/
15 9009000: 13.53 12.53 10.55 78*0 19,.86 146a8 13.60 100*5 6 1 T
22 0000404: 14.05 13,059 10,97 78.1 19.96 142.1 14.12 100.5 1177
29 1410 13.10 11,04 78.3 19,15 1.37.9 14.10 10000 _5
14Z 4%a ZZ4 9,Z. 26.
................................... i o; 1. ........= ,,,,,, ........;l~ "...............iii~ "".................. ............................. ............. ;;" "; ... ... .. .....................














'1$ woo G* oo AwO4 3"1 11o14 7.3 19.4 138,5 14'.21 101.
ll.. 719, 4 19.49 137.a 14.,31 1014ll c
..... .............. ........... .. .. .. .. ........ .. ............ ....... .. o ..... .... ....... ... ............... ...................................... ...... ........................... ,.o .............................. .. .................. ... ....
6 =iiiiii iliiiiiiiiii iiiill ii iliiiiiiiiiiiiiliiiiiiiili i E ;riiiiiii iiii iiiiiiiiiliii iiiiliiiiii i iiiiiiii ii ii i ii =,ilili iiiiiii iiiiiiiiiiii iiiliiiiiiiii iiilil ii I = ii ...... ... ii l i ... iiiiiilii iiiiiiii iiiii iiiiiiiii iiii iiiiiii iiii

';;;;;;; ;; ;; !ii iiI'i'ii iiiiiiiiiiiii l, ; !iiiiiii iiiiiiiiI~ iiiiiiii.i

....................................... i i, ,p iii '8li.sli'i: '..i .'I, iiii | i i @
....... .ii =~ 1 i, ;iiiiiiiiiiiiBiii iiiiii = =i= =iiiiiiiiiiiiii iiii~ii i iiiiiiiiiiiiiii; =~ iiii iiiiiiiiii~~~iiiiiii i iiiiiii~i== l ; iiiiiiiiiiiii=i == i~ iiiiii=iiiiiiiiiiiiipi iiii = ==iiiiiiiiiiiiiii = =i = iiii = iiiiii ii ii iiiiiiiiiiiiiiii iiiiiiiiii
ii ii -iiii i ii iiiiiii,~ i; i' ;;i :' i
,,, i, i i~


iii iii liiii ii ~i~ ii i ":iiiiiiiiiiiiiiiii~ ii i iiiiii: iiiii ii i i ii i i i iii
i@@i~ ~ ~ ~ ~ ~~~~r~rs iij~ ..................... iiiiiiiiiii~iiiiiiiiiii
................. iiiiiiiii iiiii~iii; iiiiiii iiiiiiii; iisiii il'l" iiii;






Tablo 1.- Cotton: Spot price per pound, specified growths at Liverpool and Osaka, specified periods c
Continued
cn
o
Prices at Liverpool are compiled from reports of the Liverpool Cotton Association except for recent weeks
which are from cables and reports of the New York Cotton Exchange. Prices were reported in pence per pound
and converted to cents per pound at current official rates of excharge. Prices at 'caka are from "The Ten-
Days Return of Cotton", Osaka, and cables to the Bureau of Agricultural 2conoiiics. They were reported in
yen per picul and converted to cents per pourd using monthly exchange rates as reported by the Federal
Reserve Board; all prices in foreign countries based on net weight.

I/ Average of Iinganghat, Yeotmnal and Akora, referred to as Acola or the Acola group.
2/ Average for 10 months.
3/ Not available.


111111111~





CS-50 -10 -

Table 2.- Cotten: Spot price per nound and spread between prices in specified
markets, 10-year average 19?7-3b to 1935-07 and 1936-37 to rate
a: aerican Lid ling : T.,r'.i : FPr-ilian :Fgyptian Uppers
E):Spead3 uSprea: i :Srreacd: :Spread
Season, : of :of : f :Spread: : of : : of-
month : New :Iiver-: Osaka: :Livcr-: of : :Liver-: :Liver-
or :Cr- : pool : oer :Bombay: pocl :Osaka : Sao : pool : Alex-: pool
day : leans: over : e : : over : over : au : over :adria over
: :Ne:w :-: rleans: :bombay:Bombay: : Sao : :Alexan-
: :leunsi/: i/ : : / : : :Paulo]/: :dria / :
10-yr. av. : C.ats 3 cents Ce nts en ets Cents es es Cents Cents Cents Cents
1927-28 to:
1936-37 ..: 12.99 1.51 1.75 10.06 1.13 1.31 14.11 .03 15.34 1.78
1936-37 ...: 13.45 1.17 2.50 10.08 .73 1.50 .2.95 1.17 15.46 1.94
1937-8 ...: 9.24 1.07 3.46 7.27 .63 2.68 9.26 .92 10.96 2.14
1938-39 ...: 9.04 1.11 2/1.98 6.57 .57 2/1.38 8.40 1.23 9.92 1.88
1939-40 ...: 10.23 2.41 3/ 8,13 1.81 3/ 9.04 3.45 3/ 5/
Aug. ....: t.18 .98 5/ 6.76 .62 3/ 7.72 1.65 9.12 2.23
Sept. ...: 9.22 1.99 3/ 7.33 1. / 8.69 2.02 9.34 ..15.
Oct. ....: 9.12 1.53 -/ 7.46 .93 / 8.73 1.72 9.14 2.89
Nov. ....: 9.60 2.06 /' 8.61 .85 / 9.76 1.83 10.37 2.33
Dec. .... 10.84 3.30 2.59 10.50 1.19 ./9 31.91 2.23 13.26 2.54
Jan. ....: 10.93 5.83 3/ 19.45 1.95 3/' 1.35 3.52 15.10 2.40
Feb. ....: 10.87 2.37 2799 9.16 1.95 .90 30.70 3.24 14.75 2.39
Mar. ...: 10.63 2.43 2.97 8.73 1.90 .61 9.69 3.54 14.92 2 .25
Apr. ....: 10.74 2.53 2.78 8.85 1..4 .02 8.87 4.60 15.13 2.51
May .....: 10.25 2.70 E.57 7.75 2.47 -.09 7.59 5.37 13.38 4.06
June ....: 10.74 3.87 2..3 5.64 3.73 1.25 6.69 5.74 V12.56 5.70
July ....: 10.55 2.70 2.1.6 6.19 3.27 1.63 6.79 5.92 3/ 1
1940-41
Aug. ....: 9.92 3.58 2.39 6.57 3.19 1.80 6.50 6.60 5/ 5/
SBpt. ...: 9.54 4.66 2.49 6.92 3.36 1.59 6.74 6.93
Oct. ....: 9.47 4.18 / 6.58 3.6R / 6.74 6.61 5/
Nov. ....: 9.77 4.07 / 6.78 3.95 3 / 6.97 6.80 /
Oct. 1 .. 9.45 4.25 3, 6.51 5.8" 5/ 6.73 6.70 3/ 3/
8 ..: 9.70 4.10 3/ 6.69 3.94 3/ 7.(1 6.61 / /
15 ..: 9.88 5.65 3/ 6.72 5.83 ,/ 7.13 6.47 3/
22 ..: 9.93 4.12 3/ 7.04 3.93 / 7.05 7.07 3/
29 ..: 9.84 4.26 5/ 6.95 4.03 3/ 6.93 7.17 / 3
Dec. 6 ..: 0.99 4.3 3/ 6.74 4.46 7.13 7.19
13 ..: 9.95 4.09 / 6.34 4.80 5/ 7.21 7.00 /
20 ..: 9.85 4.28 3/ 6.04 5.18 5/ 3/ 3/ /
Prices at New Orleans are froa records cf the Agricultural Ivarketing Service.
at Bombay are from Bombay Cotton .mnniual cnd Financial News through August 1940Q
then from New York Cotton Exchange reports. TheyT were converted from rupees p?.
Pandy of 784 pounds at current rates of exchange [buying rates in recent weeksli :a-
reported by the Federal Reserve Board.
Prices at SaoPaulo are from official publications and cables. Prices w.SP
comverted from milreis per 15 kilograms at current rates of exchange until Sept
1934, October 1934 to February 10, 1935, at open or free market rates, and from r
nUary 11 to date at composite averages of official and free market rates; except:
From November 16, 1937 through April 10 1939 when free market rates were used.
Prices at Alexandria are from the Monthly bulletin of Agricultural and Economic
Statistics. Prices were converted from tallaris per cantar at current monthly
o~ exchange through August 1939; since Sertember 1939 converted at official rate
exchange. American prices in the United states based on gross weigt; all ptic
foreign countries based on net weight. 17 Seapreceding table for prices at Liv
Pool and Osaka. 2'/ ased on average price for 10 months. The 10-month ever l
Price at New Orleans was 8.91 cents and at Bombay was 6.48 cents. 3/ Not avai
/ P'roliminnry. ..





S-50
CS-50


-: TN- %ov.: : r L Au.-ljov.
:10-yr. av. : :: : 1940 :10- yr.v.: : : :1940-41


origin and :1929-30 : 193 1939 1940 as a :
destination : to. : : ;t.'f:
: 1938-39 : : : : 199 :
S1,000 1,000 1,000 1,000
: bales bales bales bales
S 1/ I/ ]/ 1/ Pct.


United States:
to
Un-Eed King-:
dom .....:
Canada ,,..:
Jepan .....,:
China .,....:
Russia .....
Germany ...:
France .....:
Italy ......:
Spain .....:
SBelgium ...:
Other coun- :


181
33
188
36
1
139
102
61
23
19


tries ....: 80
Total 2/ ..: 863
863---


72
32
121
6
0
34
65
33
0
14


158
46
117
42
0
0
49
31
25
28


103 88 14
480- 84 14


32.9
60.9
2.6
7.1


1929-30 :1938-:1933-:1940-: as a
to : 39 : 40 : 41 :pct. of
1938-39 : : : :1939-40
1,000 1,000 1,000 1,000
bales bales bales bales
1/ 1/ 1/ I/ Pot.


506
81
536
96
13
512
336
207
75
60


193
104
345
7
0
144
241
114
2
44


15.9 237 340
24.8 2,659 1,b34


791
132
298
113
0
19
242
149
107
80

397
2,328


288
52
21
3
99
0
0
0
0
0


36.4
39.4
10.6
2.7


32 8.1
495 21.3


Egypt to
United King-:


dom .....: 81 48 61
France .....: 25 14 42
United States: 8 4 4
Germany 4/ .: 16 14 0
Italy ......: 14 11 10
Japan ......: 16 17 14
Br.tish India: 8 6 19
Otner coun- :
tries ....: 38 39 35
Total 2/ ..: 206 15I3 15


3/

3



r/


186
67
20
51
40
40
19

114
537


it f .


Brazil to
J-apan ......* 3/ 19 8
,United King-:
dom .....: 3,/ 19 13
Portugal ..,: 3/ 1 3
Canada .....: 3/ 0 0
United States: 3/ 0 0
China ..,: / 3 4
Other coun-
tries ....: 3/ 45 37
Total 2/ .,: 44 83 58
piled froa6m official sources. 1/
as half bales), foreign in bales of
figures were rounded to thousands.
Aunatria jnixw .January 1, 1938.

11..


53 411.5

3 23.1
1 33.3
9 --
2 --
13 325.0


O
60 103.4


144
50
10
73
42
51
23

114
507
Aug.-Oct.


205
82
29
12
27
60
56

135
606


3/





3/

7/
207


3/ 90 76 122 160.5

3/ 80 81 29 35.8
4 8 1 12.5
/ 0 1 393,900.0
3 2 6 300.0
S/ 8 31 40 129.0

3/ 175 186 2 1.1
142 345 346 237 68.5


American in running bales (counting round bales
478 pounds net. 2/ Totals were made before
3/ Not available Ey countries. 4/ Includes


11 -

Table 3.- Cotto.: Exports from specified countries, :verare 1929-30
to 193u-3J, and seasons 19.3-19 t3 date


Country of


--
--




34.2Z


--0.5
40.5


1


I m









Table 4.- Cotton: Exports from Brazil to specified countries, August 193' to date

: _eason be inning Aug. 1
Co9try0 1/___
1933 1934 19 5 ; 1936 1937 1938 1939 S Oct.
Bales ale aes I3 l 'Baleses Bales Bales Belcs les Bales
478 lb. 478 lb. 478 1b. 478 lb. 478 lb. 478 lb. 478 lI. 478 lb, 473 lb. 478 lb.
I
Bgiim ..........: 15,676 43,912 36,779 32,907 26,855 31,669 22,000 0 0 0
Dmark #1..... : 42 0 55 51 711 1,798 0 0 0 0
Fae ...........: 20,617 69,288 66,248 59,938 88,372 176,893 56,277 0 0 0
emay ..........: 28,182 298,900 214,430 297,335 507,807 3? ,762 700,41 0 0 0
,ly 3..........: 5,89 22,284 26,909 52,026 15,442 75,639 26,594 0 0 &
terlands ......: 6,`29 826,701 30,532 29,555 20,638 48,035 37,869 0 0 0
ray ...........: 0 436 0 15? 295 2,167 101 0 0 0
'"U '32 037 2p 1318 30; ;









Poan ......... 1 1 1,58 .8,57. 2,97 ,918 30,537 1,02 0 0
Ptugal .........: 169421 24,254 1097 24,160 30Q<74 14,321 52,497 101 0
Spain ............ : 78 119 0 0 10C705 v, 0 G 0
Sd ...........: 103 401 959 6,774 4,054 12,521 1)56O 0 0
S zerland .... .: 0 0 120 106 212 507 0 0 0
ed Kingdom ...: 1L7, 614 246,823 001,375 273,071 202,950 229,483 295,485 11,567 13,735 2,864
C da........... : 0 0 0 0 0 81 20,30 8182 21,8890
ied States ....: 0 463 1,191 15,196 254 49986 11,092 1,135 1,986 1,651
Agtina ......: 0 0 0 0 0 0 0 0 0
C mbia 0 0 0 0 0 0 0 0 1,980
0 a ............ : 0 0 71767 17410 11,378 223,939 158,140 8 0,054 ?1117 12,7?1
Ta a ............ : 7,757 11,089 135,518 8"A44728 203,920 405,553 218,758 63,656 19,971 33 ,84
Othe countries .: 101 L,0925 3 0,~9_ 4,1. __ 10,595 11 O1 514 0 0 0

Total, ..........: 272,471 746,210 742,865 11081,084 3146,569 6081948 981$057 109,695 66,581 609424
I ~7-
:7,4.- c s "J Ic '1 .1,

















WpIl'tdclfrom Commavito Exterior do Brazil, except for cuarr ent month. whi ch 'was received- by cable,
Preliminary.
... ..... ... ... .. .... ... .......
.... .... .....








Table 5.- Cotton, all kinds: Consumption in United States, by months, September 1912-November 1940

Season I : i :
beginning: Aug. : Sept. I Oct. t Nov. 9 Dec. I Jan. : Teb. ar. r. May : June 1 July 1 Total
Aug. 1_. I I 5 ; : 1
: running unng Rning Thnning Running RuBunnning huinninng Thnning Ihinning Tunning Thinning Thinning Running
bales Ij ballet / bales s ale balese/ bales / bale balee 1 bales 1/ bales j/ bales bales 1/ bales /
1912 : 411.582 483,878 418.800 422,569 509,694 448,095 462,455 478.506 481,993 441.157 462,242 V/5,050,971
1913 : 432,350 442,435 511,923 456.356 456,262 517,299 455,231 493.354 499,646 466,744 446,145 448.333 5.626,078
1914 : 383,680 414,864 451,899 420.706 450,869 467,862 463,307 524,867 514,009 493,798 514,655 496,846 5,597.362
1915 464,392 498.738 500,762 514.743 555,005 542,081 540.733 613,754 531.714 575,566 570,597 489,528 6,397,613
1916 557,780 528.288 550,655 583,044 536,675 601,381 547.174 603.919 552,244 615.412 574,110 537.823 6.788,505
1917 569.48 522,389 584.946 590,427 516,498 523,947 510,0s4 571.443 544,125 575.862 515.823 541.457 6,566,489
1918 534,971 489,962 440.354 455.611 472,908 556.883 433.295 433,485 475,875 487.934 474.330 510,328 5,765.936
1919 4 197,319 491,069 556,041 491,250 511,711 591,921 515,699 575,789 566,914 541.377 555,153 525,489 6,419,734
1920 : 483,560 457.967 401,325 332,712 295,292 366,463 395.115 438,218 409,247 40o,714 461,917 410,142 4.892,672
1921 467,059 484,718 494.317 527,940 510,925 526,698 472,336 519.761 443,509 495,337 509,218 45s,002 5,909,820
1922 a 526.380 494.013 533,744 579,190 529,342 610,306 566,805 624,264 576,514 620,854 542,026 462,654 6,666.092
1923 a 492,483 485,665 543.260 532,702 463,789 578.468 508.677 485,840 478,583 413.967 350,021 347,099 5,680.554
1924 : 357.380 438.373 534.283 495.182 533,789 594,010 550,775 583,407 596.541 531,668 494,083 483,926 6,193,417
1925 : 451,236 483,082 544,097 543.488 576.216 582,315 565,118 635,896 577,678 516.376 518,607 461,743 6.455,852
1926 : 500,253 570.570 568,361 583.746 602,986 603,242 589,513 693,081 618,279 629,948 659,841 569,765 7.189.585
1927 634,520 627,784 613,520 626,742 538,786 586,142 572,875 581.325 524,765 577,384 510,399 439,821 6,834.063
1928 526.340 492.307 616,238 611,173 533.301 668,286 594.720 631,669 631,802 668,650 569.414 547,165 7,091.065
1929 558.754 545,834 639,759 541,153 452,685 576,160 494.396 507,646 531,911 473.284 405,236 379,022 6,105,840
1930 : 352,626 393.390 443,284 415.315 405.518 450,117 433.376 490,509 508,691 465.363 453.901 450.884 5,262,974
1931 425,030 464.335 461,023 425.228 415.401 434,726 451,239 488,907 366,481 332,372 322.706 278.568 .,866.016
1932 W 404,497 492,742 501,893 502,434 440.439 470,182 441,203 495.183 470,359 620,561 697,261 600,641 6,137.395
1933 588,902 499,482 504,055 475,247 347.524 508.021 477,o06 544,870 512,594 519,299 363,262 359.951 5.700.253
1934 W 418,941 294,696 523,032 480,081 417.344 550,553 480,339 482.373 468.402 470,412 383.982 390.712 5.360,867
1935 4 408,325 450,647 552,840 512,312 499.773 590,484 515,977 550,641 576,762 530.894 555.449 607,056 6.351,160
1936 : 575,014 629,767 651,086 625,794 694,841 678,786 665,677 776,942 718,975 669,665 68o,521 583,011 7.950,079
1937 : 603,617 601,305 524,188 482,976 432,328 433,258 426,866 512,626 413,169 426,149 443.043 448.453 5,747,978
1938 : 559,409 533,399 543.857 596,416 565,627 598,132 562,580 649,940 543,187 606,090 578.436 521.353 6,858,426
1939 630,667 624,183 686,451 718,719 650,123 731.793 661,771 627,194 623,098 641,636 565,416 622,723 7,783,774
1940o y 654.503 639.252 77,702 744,o088







Compile& from reports of the Bureau of the Censua.
Ij American in running bales, counting round bales as half bales; foreign in bales of 500 pounds.
SNot available.
Total for 11 months.
Preliminary.





UNIVERSITY OF FLORIDA



3 1 ll262 08900 3890lllllll lllllll
3 1262 08900 3890


I'



lii I!"





1.Lr


9 4*


) .


C'I;

:
6r.;






...Ii:.;
,.


''



i





r
r
:


~PkC

..i"


..' i
~;Lr


-3 ....Z...
. .: .' ... ;. :.

*..." .* ^^ *.:5:. :


:, .. :. ..




Full Text
xml version 1.0 encoding UTF-8
REPORT xmlns http:www.fcla.edudlsmddaitss xmlns:xsi http:www.w3.org2001XMLSchema-instance xsi:schemaLocation http:www.fcla.edudlsmddaitssdaitssReport.xsd
INGEST IEID E43TXQ17Y_36ZIJA INGEST_TIME 2013-02-14T14:22:46Z PACKAGE AA00013000_00023
AGREEMENT_INFO ACCOUNT UF PROJECT UFDC
FILES