The Cotton situation

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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:
AA00013000:00024

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


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Full Text
0 r / -


THE SIT


-J~tie^T


FOR RELEASE
AUG. 27, A.M.


NATION


BUREAU OF AGRICULTURAL ECONOMICS
UNITED STATES DEPARTMENT OF AGRICULTURE
A nol -


AUGUST 1953


' CS-148


Mills in the cotton-growing States have tended
to account for an increasing proportion of domestic
cotton consumption for many years. In the 1952-53
marketing year about 93 percent of domestic cotton
was consumed in the cotton-growing States, compare


with 61 percent in 1920-21.
At the same time the proportion of cotton con-
sumed in the New England States has declined steadily.
In the 1952-53 season it was 6 percent while in 1920-
p percent.

I ..' .. .
rici
x 'v -----I
LC 7_77


MILL CONSUMPTION OF COTTON
By Geographic Areas
................
c TSo E R STAT ^^ *:**"** **"***"*** E'^'^*- -* ^*"-i
NEW ENGLAND STATES
80


60


40 COTTON GROWING STATES


20


0
ON
1920 1930 1940 1950
DATA FROM THE BUREAU OF 1HE CENSUS 1952 DATA PREL.
U. S. DEPARTMENT OF AGRICULTURE NEG.49345-XX BUREAU OF AGRICULTURAL ECONOMICS






Cotton Situation a a Glance


S Unit


52
ne July May


111.8
94.2


31.73
34.10
93
33.41
66.88
34.90
31.98

109.8
92.1

241
175
283.8
1,025


Item


June


31.51
33.98
93
33.16
67.71
34.89
32.82

109.5
92.5
241


110.9
92.3


-,IIII 1__ 1___




CS-148 3 -
p i i.'-^ /4 .. -




S*... -' '.. UMMARY


The supply of. cotton in the. United States for the 1953-54 marketing
year is estimated at.20,2 million running bales, 11 percent, larger than
that of the preceding season, and the largest supply siict 19459-50. The
1953 supply includes Ihe crop forecast on August 1 at t, .$ Billion running
bales or 14,6 million 500 pound bales, a beginning carryover of 5.5 mil-
lion, and estimated imports of 0.2 million, '.

The estimated-. 953 crop is: 3.5 percent smallerr than. the 1952 crop
an ,is the. smallest, since 1950. The largest decrease is taking place in
the Southwestern and belta States where production is estimated to be about
5, p.rcep.rbelow fie. receding .~a'son. Pr6ductitn int the' Western States"
villa probably be about 4 percent below last season. ..

The carryover on August 1, 1953 of 5.5 million bales was about
2,7 million larger than that of a year earlier and was the largest carry-
: vPr s.nce August i, 1950.when stocks. amounted to 6.8 million bales. The
commodity Credit Corporation held about' 2,;ill'iqn bales, or ,36.percent
of the. -1953 .carryover, on August.1,. Stocks in consuming establishments.
of 1.5l million .bales comprised about 27 percent, of the August .L stocks. and
were the largest mill stocks on any August 1 since ~1i6.. Stocks of. foreign
cotton in the August 1 carryover amounted to about 93 thousand' baies and
al were the largest. recorded. o August 1.lsince .195; ,hen stocks of foreign
cotton were 112 thousand bales. ..,r .
I. I,
,. ,. f .dsappearanee in 1953 4. is between .1.2. .and, 1.5 million bales,
the carryover on August 1, 1954 would be' 6,7 to 8.0 billion bales.' To
put it another way, the actual supply of cotton would be 15b to 166' per-
. cent of disappearance.'. When'the supply exceeds -130 percent: pf estimated
disappearance, the ,law: requires that national, marketing quotas shall be
proclaimedd .for the following crop.

Mill consumption of cotton in 1952-53 amounted tb about 9. millionn
bales,. The mills consumed ,ore long staple cotton in the 1952-53 market-
ing year- han in the precedinig-season. Consumption included .less American-
Egyptian and more Egyptian cotton. One reason for the change in the pro-
portions of these two cottons consumed was that ih price of Egyptian.',
cotton was lower than the price of American-Egyptian. ':;

Recent Developments

Spy o Cotton g

.The supply of cotton in the United States during the 1953-5'4market-
ing year-is estimated at 2Q.2 million bales, largest. since 1949-50. 'The
0u.ly of. .cot.on.has increased each season pince 1950-51, as shown in the
following table:





AUGUST 1953


Table 1.- Cotton: Supply in U. S., 1945*53
. ..* -. ,. --
; ir M


*


Year :
beginning:
August i 000
b halos


ota. :~Beginnipg
r Percentage of :rryov
!nracedina vear


I-... -i n.


1945

. 1947
1,94 ..
1949
1950
1953 ,.
.1952 .,
1953 ,


. .. 20,359
..:: 16,170
*: :. 14,412
; 17,892
21,453
16,910
.:':17,414
: 18,180
.3/20,200


Percent

89.1
S. .79.4
89.1
124.1
119.9
78.8
103.0
104.4.
.111. 1


m n --


4. 1,000
bales i/

11,164
.7,326.
2,530
3,080
, 5.,287
6,846
S2,278 .
2,789
5., 502


In, season
S .:Imports
innings


1 000 1,000
bales 1/ bales 2


.8,853
S 8,540
S11,623
14,619
: 15,894
9,849
15,024
15,124
A14,500


-:343.
270.
234
163
245
188
72
224
3/200


City
crop
1,000
j bales I
,s

2:35
S 26
: 30O
27
28
40
S 42
3/40


Running Bales. .Bales. 9f 500
A August 1 forecast.


pounds gross weight. 1/ Estimated,


Carryover Increase .. .

.. The carryover on.Augast 1, 1953 of 5.5fmillion bales'was 2,7 million
bales .larger than that of a year earlier.:and the largest- sincli'August 1,j
:,1959. With 1953-54.:disappearance expected'to be 12.2 to 13.5 million bales,
.-.the carryover on.August 1, 1954 will probably. rise further to between
6,7 and.,8,0 million bales.

Stocks of upland cotton held by the. Commodity Credit Corporation on
August 1, 1953 amounted to approximately 2 million bales or about 36 per-
cent of the .carryover. As shown in:-the following table, .the CCC stocks
werq the largest since August 1, 1950 in number.of bales and as a percent-
age .of the total carryover. .
... ; .
Table 2.- Upland cotton: Carryover .in the U.SS and.stocks of the .Canmodity
Credit Corporation :qn August 1, 1945-53 .


:'Year.

.
*


1945
1946
1947
1948
1949
1950
1951
19'52
19,3.
.i .


.




S
S.





S.
S
4,
S


Total carryover
--~^ **rl


1,000. .
running bales'

11,164
7 326
2,530
3,080
5,287
6,846
S2,,28
.2,789
5,50'2 '.


1,0
-., running \

V .'6,9k
4
7


3,8:
3,54

S. ,. 2
. .. .. ,


'CCC stocks

30 .. -. Percent.of
bales .4arryaver-

7 : 62.2.
36 10.7
55 2.2
a1 1.3
19 72.2 2
40 51.7
79. 3.5
85 -'.. n 'n .10.2 m
37. 3,6. 1 : ..,.3


I I '


I II I I I


.... _, -- -


IL


IIIIILI


_ ~_____


__ _____


- 4 -


r




CS-148 5 '.

The -aomut 'of cottod owned or -held as .collateral:by the Commodity
Credit Corporation has increased each year since. 1951. Of the total held
by CCC on August 1, 1953, 1,751 thousand bales were from the 1952 crop,
236 thousand from earlier crops, principally 1951. The:last date on which
1952 crop loans can be repaid by farmers was recently extended from July 31,
1953 to July 31,.1954." The CCC also held about 31 thousand bales of American-
Egyptian cotton from the 1952 crop.


Stocks of foreign
34 percent larger than-a
August.!, 1951, as shown


Table 3.-


cotton held in the U. S on August 1, 1953 were
year earlier, but were smaller than those.of
below:


Foreign cotton:.. Stocks in the U. S., o
August 1, 1945-1953


*6


Year





,5


j946

1947

1948

1949

1950

1951


Consuming
establishments
'


1, 000 ,
bales i/

54.8

102.9

83.9

S62.7

50.6

69.2


.57.4


.t
I#


Public


storage


Total


: 1,000
. .bales /


1,000
bales 1/


69.1

. 49.9

-48.5

25 .9

18.4

26.4


54.7


123.9

152.8

.'132.4

88.6

69.0

97.6

112.1


1952 : 36.5 32.7 69.2

1953 4.6.9 .45.8 92.7


I/ Bales of 500 pounds.

Compiled from reports of the Bureau of the Census.


SPercentage of
. preceding year
*


104.9

. 123.3

86.6

- 66.9

.77.9 i

.141.4

S114.9


61.7
134.0 i J


Stocks of long staple. cotton other. than upland on August 1
were about 91 percent above a year earlier and were larger than in
year since. 1945, as shown below: .


1 *


191


1953
any


Le




AUGUST 1953 -.6--.

Table..4.- Qottons.. Stocks of Long staple( other than upland)
S* .. ..in.the U. S,,,.August 1,.1944-1953 .* ..
: .. ... ., ... .:To 1
Yea:t Sea Americian "~ Pedrian- Prceentage'.of.
Yea gyt.an: Island :Egyptian : uvian d : Pr
: :. : :: ,: Adtii preceding year
: 1,000 1,000 1,000 ,. 1,000 1,00.; .
balebales 2/ ba bales / b bales 2 bales 2/ Percent

1944 61,9. 1 .7 65.. .4 131.5 3.67 .3
1945 : 58.9 1.4 31.6 3,6 :95.6 .72.7
1946 : 4o.1 2.0 5.7 6.4 54.1 56.6
1947 : 54.5 2.0 3.7 14.5 74.6 137.9
1948 : 3.6 0.9 2.5 7. 44.3 : 59.4
1949 : 42.2 7 1.9 1.0 45.8 103.4
1950 : 58.5 .6 2.8 3.2 65.0 141.9
1951 : 56.1 .8 21.3 4.2 82.4 126.8
195? : 33.1 .5 10.3 440 47.9 : 58.1
1953 3/: 56.4 4/ 31.9 3,4 /91.7 ;/191.4
i/ Totals were made before data were rounded to thousands. 2 Sea
Island and American-Egyptian in running bales, foreign cottons.-in bales
of 500 pounds. 3/ Preliminary. 4/ Not available. 5/ Excludeq Sea
Island. Bureau of the Census.

Cotton.Imports in 1952-53 Large

Imports of cotton in the 1952-53 crop year were larger than in'
any year since 1949. The large imports coupled with approximately normal
consumption of foreign. cotton account.for the larger. stocks. :

Imports of long staple cotton other than upland from August 1,
1952 through May 1953 amounted to 119.4 thousand bales. This is 159 per-
cent larger than such imports during the entire 12 months of the 1951-52
season, but has been exceeded in 4 other marketing years since World War
II ended, as shown below:

Table 5.- Imports of long staple .cotton, United States 1945 to date

Year : Total
beginning: Egyptian Peruvian : Actual : Percentage of
August 1 ::__ : preceding year
1,000 1,000 1,000
bales 1/ bale' 1/ bales l/ Percent

1945 69.9 27.8 97.7 103.3
1946 130.5 39.2 169.7 173.7
1947 98.9 23.2 122.1 76.0
1948 99.5 5.0 104.5 85.6
1949. 131.0 .,-20.7 151..7 5.2
1950 : 109.9 10.9 120.8 79.6 -
1951 36.6 9.5 46.1 38.2
1952 2/ : 105.8 13.6 119.4 ---

SBales of 500 pounds. 2/ Imports from August 1, 1952 through May
1953. Bureau of the Census.




cs-148 -7 -

SThe' large stocks'bf foreign long staple ebtt~n indicate-that cotton
impor%'s'during the 1953-54 season will probably'be smaller -then during
1952-53, perhaps aboit'-1!0'thousand bales;. -'

Cotton Crop Smalier :-:: .: ". :
.. .- J ,: "
The'August'1' forecast of the Crop Reporting Board is for "a 1953
cotton crop of 14.5 million running bales (14.6 million 500 pound bales).
This will be about 3.5 percent smaller than the 1952 crop and 3.3 per-
Sdent below the 1951 crop. Ginhings to August 1 fronm the 1953 crbp were
349 thousand-bales. 'Ginning froan the 1952 crop a year'edrlier were-'
176 thousand bales.; ` ,* .. .:i : ;

The 1953 crop includes 66.5'thousand bales of'American Egyptian
cotton, compared to 95.0 and' 47.2 thousand bales in the 1952 and 1951
crop, respectively.

The-1953 yield per harvested'acre is expected' to be moderately
above 1952 and is about in line with the trend toward increased yield
which has prevailed since the middle of the 1920's. This yield is
expected despite relatively heavy.boll weevil .damage.ip the Southeast
and some *drought damage .in .the Southwest.

Th. 1953 yield is associated iith. a; record use of fertilizerr. A
total of 2.5 million tons.of fertilizer. has'been aise on the.1953.cotton
crop. This year, 14.2 million acres or 56 percent of"the;July 1 acreage
in cultivation received an average of 355' pounds of fertilizer per acre.
Bdth the number of pounds of fertilizer-applied: per acre and the pro-
portion of acres receiving fertilizer are record highs.

SCotton production in the Southeastern States in-1953' (Virginia,
North Carolina, -South Carolina, -Georgia,- Florida, and Alabama) will3. L
Probably be slightly larger than in 1952. A smaller cotton: crop t..
estimated for all other geographic divisions of -the cotton belt. '.:',


Domestic Cotton Consumption Larger


Domestic mill consumption of cotton during the 1952-53 marketing
..year amounted to 9.5 million bales. This. was 3.percent larger.than. the
1951-52 consumption of 9.2 million bales.

The average daily rate of cotton consumption in 1952-53 and 1951-52
was 36.7 and 35.7 thousand bales, trspectively. "The' average daily, rate
in July-1953 was 2 pedrent larger than a yeVr atlier. .- :--
.- '; ,-, .'- :" C *.." -t. ti '-3i -
The amount of cotton consumed by mills in th cottonn groWing states
comprised 92.6 percent of the cotton consumed in the entire country in
the 1952-53 and 1951-52 ii6rketing years This- is tHe highest proportion on
record adid-thd increase' continues "'-long time tne tri (s table :12),. Mills
in North Carolina thd :Seth "Garoli h consumed more than 2 1illon bales
",'" -. -? ,i ; :$ h .
'... .. ,-' 9 -' '- ~


. ~


;-* '. *
* ; *




AUGUST 1953 8 -

each in 1952-53, mills in Georgia consumed almost 2 million, and mills
in Alabama consumed more than 1-million. Mills in these 4 states ac-
counted for 85 percent of all the cotton consumed in the United States.

Consumption in mills in the New England States accounted for only
6.4 percent of U. S. cotton consumption, in 1952-53, a slightly larger
proportion than last season which was the smallest on record. In 1920-
21, they consumed about 33 percent of the total.

Of the 9.5 million bales consumed in 1952-53, about 99 thousand
or approximately 1 percent was long staple cotton other than upland.
In 1951-52 only about 79 thousand bales were consumed, but this was
about the same percentage of total consumption as in 1952-53. More
American-Egyptian cotton and less foreign grown long staple cotton was
consumed in 1951-52 than in 1952-53, as shown below:

Table 6.- Long staple cotton other than upland: Mill consumption
in the United States, 1945-52


Year :uantity__ Proporio
Year undty *o a
Foreign: :Foreigo
beginning T American Sea foreign : American: Sea foreign
:Total :growths: Total growthe
August 1 l Egyptian:Island' 1r Egyptian. Island .1-
: 71,0 1,000 1, 1,o00 1,000
: bales bales bales bales
2/ 2/ / / Percent Percent Percent Percent
1945 : 107.4 19.5 0.5 87.4 loo.o 18.2 0.4 81.4
1946 : 143.7 9.5 1.3 132.9 100.0 6.6 .9 92.5
1947 : 150.7 5.2 1.6 143.9 100.0 3.5 1.0 95.5
1948 : 101.0 44 1.0 95.6 100.o 4.3 1.0 94.7
1949 : 119.5 2.5 .8 116:2 100.0 2.1 .7 97.2

1950 154.1 34.5 .9 118.7 .100....A 22A.. 6 7.0
1951 : 78.7 24.4 .9 53.4 10o.o 31.0 1.1 67.9
1952 / : 99.2 0.4 4/ 88.8 100.0 10.5 4 89.5

Bureau of the Census.

: 1/ Includes Egyptian aed iPeruvian. .
/ American in running bales, foreign in bales of 500 pounds.
Preliminary and excludes Sea Island.
:./ Not available'.

SLwer prices -for Egyptia cotton than for American-Egyptiae which
Swas supported by a CCC purchase program was one of the reasons ta thett
SU S.' mills increasedd their consumpption of the fomei while 'greatly reduo-
ing their use of the latter. The average spot price of Karnak good cotton





cs-18 9 -

at Alexandria (including export taxes) declined about 47 percent between
the crop years of 1951-52 and 1952-53. However, the average price of
American-Egyptian cotton at El Paso and Phoenix for grade 2 (old grade
designation), 1-1/2 inches in staple length decreased only about 10 per-
cent. In the 1952-53 marketing year the spot price of Karnak cotton
averaged 48.07 cents per; pound compared with 93.04 cents for'American-
Egyptian.

Exports of Cotton Fabric and
Yarn Decrease

Exports of cotton fabric and yarn from the U. S. were smaller from
August 1, 1952 through May 1, 1953 than in the same period a year earlier.'
Preliminary data indicate that such exports accounted for about 4.5 per-
cent of domestic mill consumption of cotton in the first 10 months of
1952-53 compared with 5.4 percent in the same period in 1951-52.

From August 1, 1952 through May 1953, 594 million square yards of
fabric were exported compared with 655.6 million in the same period a
year earlier. The fabric shipments in the August-May period of 1952-53
were equivalent to 320 thousand bales of cotton or 4 percent of the domes-
tic mill consumption in that period.

Yarn exports from August 1, 1952 through May 31, 1953 were 17.5 mil-
lion pounds, compared with 27.7 million in the same period of 1951-52.
The yarn shipments in the 1952-53 period were equivalent to 40.4 thousand
bales of cotton or 0.5 percent of domestic mill consumption of cotton from
August 1, 1952 through May 1953.

Exports of Cotton Decline

Exports of cotton from the U. S. declined from 5.5 million bales
in the 1951-52 crop year to 3.2 million in 1952-53, the smallest since
1947-48. Data on exports by country for the entire 1952-53 season are
not yet available, but preliminary data indicate sharp reductions from
1951-52 in exports to mo:-t countries.- Exports to the United Kingdom,
Belgium and Luxembourg, the Netherlands, Spain, Sweden, Switzerland,
Yugoslavia, Japan, India, and Australia we:e much smaller in 1952-53 than
in 1951-52. The only countries showing sizeable increases are Austria,
France, Israel, and the Philippine Islands. France is the only one of
the four which imported more than 100 thousand bales from the U. S. (see
table 13).

Foreign Prices.Decline,

Prices of foreign cotton during 1952-53 were generally much lower
than during 1951-52. They were also lower than prices for comparable.
qualities of American upland cotton. In 1951-52 prices for foreign
cotton were generally higher than the prices for American upland especi-
ally in the first half of the season, as shown below:





AUGUST 1953


Table 7.- Spot prices of specified growth of cotton including export
taxes 1951-52 and 1952-53


S -


Country Market
Market



India : Bombay


Pakistan: Karachi

Turkey Izmir
Turkey : Ismir


Foreign


.
.0


- --a .


Equivalent


1951-52:1952-531952-53.1951-52:
Quality Cents : Cents : Cents : Cents :
:per lb. per lb.:per lb.:per lb.:


U. S. uslity


Quality': 1i
*.


a


rket


: I/ 2/ : I/ 2/ : 2/.3/ : 2/. :t -*


Broach
Vijay, fine 40.23


289 FSind
fine

Acala II


Brazil :Sao Paulo Type 5
:S :-


$exico : Torreon


Peru


: .Lima
*
4
*
-:


Egypt :Alexand-
Sria


M 15/16
inch

Tanguis
type 5


Ashmouni
good


M 15/ie
32.08 34.41 39.37 inch


52.51 35.04 -35.55 -.40.34


/40.54


51.80


35.51 36.12


45.88 34.41


36.48 32.16 34.41-


38.27 34.36


38.26


M.-1-1/3
inches


M 1-1/1
40.66 inches

.M 15/i16
39-37 inch


39.37


M 15/16
inch .


.SIM
42.83 1-3/16
inches


60.85 38.30 38.73 42.94


SM 1-../8
inches


New
Orleans

i2 New
Orleans

.6 New
Orleans

New
Orleans

New
Orleans


Memphis


Memphis


SIncludes export'-taxes where applicable.' Y Quotations o a et weight basis
except for i4-cXico and the U. S. 3/ Preliminary. 4/ Average for.4 months.

The change in the-relationship between the prices of U. S. and foreign'
cotton is one reason that the exports of..U. S. cotton declined from 1951-52
to 1952-53.

Exports of Cotton from .
Foreign Countries Up

Preliminary data indicate that foreign free world countries exported
about 7.2 million bales during the 1952-53 season, compared with 5,6 million
in 1951-52. This increase of 1.6 million bales compares with a decline of
2.3 million in U. S. exports. Exports were up sharply in: Egypt, Pakistan,
Mexico, Turkey and India. Along with the United States.,. Brazil, .the Anglo
Egyptian Sudan, and Uganda exported less cotton in 1952-53 than in the
preceding season.

Foreign producing countries started the 1952-53 marketing year with
relatively large stocks of cotton. Foreign production and foreign con-
sumption.were about the same in both seasons. In order to sell their


- ---


- -- -- P r I


--r m 1


L L


-~ ~--


I =


- 10 -




CS-148 11

production and reduce their large stocks, foreign free world cotton exporters
reduced their prices below those for U. S. cotton and increased their exports
at the expense of exports from the U. S. Preliminary information indicates
that stocks in foreign, net exporting countries on July 31, 1953 were larger
than a year earlier, primarily because of much larger stocks'in Brazil.
Stocks in net importing countries were smaller by approximately 800 thousand
bales. Consequently., total foreign free world stocks were somewhat smaller
than a year earlier..

U. S. Prices Steady

The average price of middling, 15/16 inch cotton at the 10-spot markets
has fluctuated between 32.64 and 33.60 cents per pound since February 17.
On August 21 the price was 32.90 cents per pound. The CCC loan rate for
middling, 15/16 inch 1953 crop cotton at average location is 32.70 cents
per pound.

The average price received by farmers in mid-July'1953 for American
upland cotton was 31.87 cents per pound. This was 93 percent of the parity
price. A year earlier farmers received 37.02 cents per pound or 108 per-
cent of the parity price. In mid-June 1953 the average' price received by
farmers was 0.36 cents lower than in mid-July, but it was also 93 percent
of the June parity price,'

Mill Margins

The average mill margin (17 constructions) for the amount of gray
goods made from a pound of cotton in the 1952-53 season was 32.21 cents.
This was 16 percent above 1951-52 and 30 percent lower than 1952-53 (see
table 16). The average price of the cloth in the 1952-53 season declined
about 1 percent from the preceding season, but the cost of cotton declined
about 12 percent. Both'fabric and cotton prices were higher in 1950-51
than in either of the two succeeding marketing years.

During July 1953 the mill margins were about 1 percent smaller than
a month earlier, The decline was caused byahigher cotton:prices. The
price of gray goods was almost the same in both months.

Foreign Prodction

Foreign free world cotton production in the 1952-53 crop year was
about the same as in 1951-52. Both crops were about 2 percent larger than
the 1950-51 crop and were larger than any other post-war crop and about
equal, to the prewar record.

The foreign free world crop in 1953 will probably be about 1 million
bales smallerr than the 1952 crop, as shown below. Several countries in the
Northe*n-hemisphere will have smaller crops. The principal countries in
which reductions are expected are Egypt, Pakistan, Mexico and Turkey. No
data are yet available for Southern Hemisphere crops and for the purposes
of this report the Southern Hemisphere crops are assumed to be the same as
in 1952-53.




AUGUST 1953


- 12 -


Table 8.- Cotton production: Foreign free world countries,
.1946-47 to 4ate i/
. I I I .1 0 ba le s
Year beginning August. 1,000 bales
-- l-l-- -i m. --- --- -


1946
1947
1948
1949


1950
.1951
1952
1953


*
0
*
U.
a :


8,825
8,800
9,600

133O0
13,500
S13,500
. 12,500


_' *- I I II I 1 I |1.

V Source: International Cotton Advisory Committee. 2/ Estimated and
preliminary. .

Foreign Conaumption. .

It now appears that foreign, free world, .cotton consumption was
about 16,1 million bales in the 1952-53 marketing year. This is about
the same as the record post-war consumption of 1950-51 and slightly higher
than in 1951-52.

Consumption in 1953-54 will probably be at least as large as in-
1952-53 and it may be larger.


Table 9.- Cotton linters: Consumption, United.States,
1945-46 to 1952-53


Year' :
beginning Bleacher
AdJmn w I m -
1,0


1945
1946-
1947
1948
1949

1950
1951
19522/


:.
:6
S
"
" ,
:S
S
S- :
:U-
U I
:


1,000
running bales

.1/

635.9
841.0
968.4


808. 5
800.0
777.8


Consumpn-tiop- ,,
Other Total
; ;

1,000 1,000
running bales running bales

S.-1,054.6 .
/ ." O 9 ,.3,7
983,7
520.3 1,156.2
565.4 1,406.4
:648.0 1,616.4

587.1 1,395.6
S506.4 1,306.4.
.579.6' 1,357.4
:" ..':


Bureau of the Census.


3/ Not available. 2/ Preliminary.




- 13 -


Suply and Distribution of Cotton
Linters in the United State

The production of cotton linters in the 1952-53 marketing year was
1,785 thousand bales, about the same as in the preceding season. Pro-
duction in 1953-54 will probably be about 1,625 thousand bales,

Consumption of linters during the 1952-53.season totaled 1,357 thou-
sand bales, compared with 1,306 thousand a year earlier. Consumption by
bleachers declined slightly in 1952-53 but consumption by other users
increased 14 percent over 1951-52, as shown above.

Exports of linters in 1952-53 amounted to about 130 thousand bales,
compared with 226 thousand in 1951-52. Imports in 1952-53 were 322 thou-
sand, 186 percent larger than a year earlier.

The carryover on August 1, 1953 was 1,023 thousand bales. This
was the largest stock for this date since records began in 1914. The
carryover a year earlier was 548 thousand bales.

The above figures indicate a total supply in 1952-53 of 2,655 thou-
sand bales and a total distribution of 1,489 thousand.

Prices of Linters Decline

For the past 2 crop years, the average prices of linters have
declined from their 1950-51 peak (see table 15). For example grades 2 and
6 averaged 12.00 and 4.33 cents per pound respectively in 1952-53, compared
to 22.00 and 14.19 cents in 1950-51. In 1951-52 linters prices were between
those shown above.

Prices during the 1952-53 season have declined steadily. For most
grades the seasonal high was in August 1952 and their seasonal low was in
July 1953.

Prices of Purified Linters Steady

The prices for purified linters declined from 15.80 cents per pound
in August 1952 to 11.15 cents in October 1952 where they remained through
January 1953. However, the price increased after January and in June was
12.50 cents. The prices of dissolving woodpulp have been constant since
January 1951, as follows:

Standard viscose grade 9.25 cents per pound
High tenacity viscose grade 9.75 cents per pound
Acetate and cupra grade 11.25 cents per pound

Cotton-Rayon Price Relationship

Since February 1953, for the first time since 1944, the price of
cotton yarn has been lower than the price of comparable rayon yarn (see
table 17). In July 1953 the price of 30's cotton yarn was 9 percent lower
than 150 denier rayon filament yarn. However, the price of rayon staple
fiber is still lower than the price of cotton.


cs-148




AUGUST 1953 1 -

Table 10,- Cotton: Pcreage, nroduct.on and yield-forecase., .-by.States,
crop of 19i3 with comparisons: August 8, 1953


: Area in : Lint yield per : Production
: cultivation.: harvested a-re : (ginnings) 3/ :Percent
State :July i, 1993 : 1953 : change
:less 10-year :Average:1 :Indicated:Average: 1952 : crop : from
:average aban-:1942-51: 9 : 1953 2 :1942-51: crop :indicated : 1952
:donment / : : : : Au. 1
: Thous. Thous. Thous. Thous.


Amer,-
Egypt. 6:.


Tex.
N. Mex.
Ariz.
Calif.


acres


499
29
759
.1,074.
1,354
64

891
1, 80
2,374
1,836
905

984.
9,284
312
675
1,396.

16


24,032


82.9

27.0
18.3
37.0
0.6


SPounds Pounds


379
362
345:
315
252
192

364
285
337
334
314

160
183'
483
525
615


355


385
424
366
*286
245
271

366
275
385
345
408

105
171
527
682
622

337


271.4 282.7


322 7/406


350
318
303


431
399
7/395
7J258


bal
Pounds I


356
331
291
324
S252
240

350
304
376
320
363

176
182
455
676
593

339


es bales bales
/ J L Percent


345
20
522
697
716
15

543
911
1,670
1,355
568

429
3,162
173
312
763

13


394
?3
569
657
729
30

638
890
1,906
1,366
756

264
3,-808
330
948.
1,818

10


291.7 12.215 .15.136


385

427
289
402
400


27.2 95.0


7.0
3.9
16.1
-I


32.4
18.1
43.8
0.7


370
20
460
725
710
32

650
1,000
1,860
1,225.
685

360
3,525
296
951
1,725

11


-6.
13.
-19.
+10.
- 3.
+ 7.

+ 2.
+12.
- 2.
-10.
- 9.

+36.
- 7.
-10.
0.
- 5.

+10.


14.605 4.


66.5 -30.


24.0
11.0
31.0
.5


-26
-39
-39
-29


I/ From natural causes. 2/ Indicated August 1, on area in cultivation July.l
less 10-year average abandonment. / Allowances made for interstate movement of
seed cotton for ginning. 4/ Bales of 500-pounds gross weight. V5 Illinois, Kansas,
Kentucky, and Nevada. 6/ Included in State and United States total.. 7/ Revisions
due to change in allowance for tare.


: '
: *
:*
:*
:*


Tenn.
Ala.
Miss.
Ark.
La.


Okla.
Tex.
N. Mex.
Ariz.
Calif.
Other
States

United
States


j/:




- 15 -


Table 11.- Supply and distribution of cotton. United States. 1923 to date


: ': SubDD1


: -:Ginnine _
2 Current: N
Year ; crop.:.. cr
begin-: Carry-: less : r
ning : over :ginninge: -to
August:August : prior to:A .,,B_
1 :1 :August 1: -1 to


1923
1924
1925
1926
1927
1928
1929


191
1992
1933
1934
1935
1936 :
1937
1938
1939

1940
1901
1942
1943
1944
1945
1946
1947 :
1948
1949

1950
1951
1952 /:
1953 3:


r__


S: r:of cur-


^^___^^^_&______^_a_


n


:
:
*
0*


*
*
* 5
* U


1,000
bales .


2,325
1,556
1,610
3,543
3,762
2,537
2,312

4,530
6,370
9,678
8,165
7,744
7,208
5,409
4,499
11,533
13,033

10,564
12,166
10,640
10,657
10,744
11,164
7,326
2,530
3,080
5,287

6,846
2,278
2,789
5,502


rent

1,000
bales
2/

10,106
13,618
15,961
17,707
12,621
14,208
14,461

13,677
16,622
12,639
12,493
9,372
10,326
12,100
18,109
11,465
11,344

12,266
10,493
12,389
11,021
11,791
8,681
8.346
11,364
14,321
15,611

9,625
14,848
14,775


* Mill s De-
consump- stroll
Stion ed
* :
S* S


Current
'easor
-1,000
bales
2/

22
162
*48
163
89
87
78
'7
71
171
100
94
41
143
158
137
32

2
49
107
48
133
17;
194
259
29
283

223
176
349


.


:less re-corop I
exports)
*
1,000 1,000
bales bales


272 1
303 1
314 1
382 2
321 1
442 1
368 1

99 1
107 2
124 2
137 2
107 1
155 1
249 1
158 2
132
159 2

188 2
252 2
168 2
129 2
190 2
343 2
270 35 1
234 26 1
163 30 1
245 2' 2

188 28 1
72 40 1
224 42 1


6,675
8.,707
8,418
7,531
4,767
5,971
5,433
5,595
3,325
6,163

1,112
1,125
1,480
1,138
2,007
3,613
3,544
1,968
4,748
5,769


Total. ..- .
, "/ o: ,'
St



1,000 1,000
bales bales
2/ 2/

2,725 5,647
5,638 7,999
7,933 8,045
1,794 10,917
6,793 7,529
7,273 8,038
7,219 6,675


4,1171O, 509
5,515 A/9,196
3,162 A/9,457


U
2


i


I/ Totals were made before data were rounded to thousands. / Running bales ex-
*eopt ONet imports', which is in bales of 500 pounds each. 3/ Preliminary. A/ Ad-
juated to period August 1-July 31.

Table 1 of Annual Report of the Bureau of the Census "Cotton Production and Distri-
bution" except for 1952 and 1953 which are from Census Report of August 21, 1953.


* Dt. i butti-on


--


- __ ___,


1,000
bales
2/

5,681
6,193
6,456
7,190
6,834
7,091
6,106

5,263
4,866
6,137
5,700
5,361
6,351
7,950
5,748
6,858
7,784

9,722
11,170
11,100
9,943
9,568
9,163
10,025
9,354
7,795
8,851


8,314
3,169
2,612
0,894
7,317
7,730
7,901
2,924
3,268
4,568
3,020
2,959
3,305
1,856
2,858
0,359
6,170
4,412
7,892
1,453

6,910
7,414
8,180


I


* I '

1,00
bale


20
26
50
70
20'
18
25

28
62
30
40
30
35
45
65
66
75

70
50
60
50
50
60
16
20
35
37

27
35
50


STotal
: 1/


: pJJ

0 1,000
3 bales


11,348
14,218
14,551
18,177
14,383
15,14?
12,806

12,048
13,635
14,581
13,271
10,158
12,357
13,428
11,400
10,249
14,022

10,904
12,345
12,640
11,131
11,625
12,836
13,585
11,342
12,578
14,657

14,653
14,746
12,669


- -- ------- --- --





AUGUST 1953


- 16 -
4.


........... Table 12. Cotton: Mill consumption by ge-ographic- areas
.. .;l..e*delitage .each. area is -of- total. Uni-ted Statese 1920 to date


Year : Cotton : New
.beginning. .: growingg : England .; Othere
_ August 'J. .: .S'ates States.-
: Perobnt Percent Percent

1920 : 61.3 33.0 5'.7
1921 :: 63.1 : 30.8 6.1
19 63.7 30.8 5.5
1923 67.9 '27.0 5.1
-1924 -- : 68.1 26.5 5.4
1925 69.7 25.2 5.1
1926 72.2 23.3 4.5
1927 : .74.9 21.0 4.1
1928 : .76.0 20.4 3.6
1929 : .77.8 18.7 .3.5
a


1930
1931
1932
1933
1934
1935
1936
S 1937
1938
S 1939

1940
* 1941
1942
S 1943
1944
1945
1946
S 1947
S 1948
1949

1950
1951
1952


. .-:
. :
: 9

: *




.
*
*
:
:*
:*
*
:*
:
:*
:*
:
:*


1-. .


.78.8
.82.9
82.9
79.8
,80.3
84.0
83.3
.84.9
84.7
S85.4

,85.3
,85.3
,86.8,
87.9
88.4-
88.1 -
87.5
88.2
89.6
90.7


-a




I
S -


90.5
92.6
- 92. 6


17.8
13.9
14.4
17.3
15.3
13.1
13.5
12.3
12.5
11.8

11.8
11.7
10.4
9.6
9.3
9.3
9.7
9.5
8.3
7.5

7.9
6.1
6.4


S

i-I


3.4
3.2
2.7
2.9
4.4
2.9
3.2
2.8
2.8
- 2.8

2.9
3.0
2.8
2.5
2.3
2.6
'2.8
2.3
2.1
1.8

1.6
1.3
1.0


Total


. percent

'100.0
100.0
S100.0
100.0
100.0
100.0
100.0
100.0
100.0
100. 0

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

100.0
100.0
100.0
100.0
10Q. 0
100.0
100.0
100.0

S 1001.0
S 100.0
100.0
4 I


Bureau of the Census.


1 Preliminary.


ii


I'
51


, o' ..i.


|


.I


A

' ,i.~"i
*ii ;


'





CS-148 17 -

Table 13.- Cotton: Exports from the United States, by country of
destination, August 1-May 31, 1951-52 and 1952-53

0 August 1-May 31
Country of destination .- -


S---V --
S 1951-52
; Running
l bales
Europe 3
United Kingdom ................... 637,959
Austria ..........................: 29,392
Belgium and Luxembourg ............: 303,208
Czechoslovakia ....0.........,....: 0
Denmark ..........................: 32,016
Eire ....5 ..... ...... ............. 4,133
Finland ...........................: 31,520
France .............................: 284,143
Germany, West ......................: 397,880
Greece .,............. ........ ....: 0
Hungary .................... .0 0
Italy ..............................: 441,570
Netherlands ........... ........ 179,707
Norway .............................: 4,472
Poland and Danzig ................ 0
Portugal .......................... 19,471
Spain .................. .........: 177,255
Sweden ......... ............ ***... 95,850
Switzerland ................ ....... 95,019
Trieste ..... ..................... 1,036
U.S.S.R. .......0................: 0
Yugoslavia ................. 114,720
Other Europe .....................*: 0
Total Europe .......................: 2,859,351

Other countries
Canada ............................ 269,423
Mexico ...... ....... .............; 0
Cuba .........5....................: 18,749
Colombia .....s.................. : 49,094
India ........... ......... 738,077
China ............................ ..: 0
Japan .....,.* *..........*......:* 989,835
Hong Kong S....................... 0
Korea ............. ........: 47,834
Palestine and Israel ...............: 6,949
Philippine Islands ................: 2,279
Australia .........................: 47,251
Other countries ...... ........... : 177,628
World Total ............. .........: 5,206,470


Compiled from reports of the Bureau of the Census.


1952-53
Running
bales

325,877
38,529
66,324
0
28,308
2,421
4,201
457,956
208,454
0
0
234,976
67,691
10,414
0
573
61,946
33,192
25,903
454
0
69,176
0
1,636,395


247,160
0
10,137
31,956
37,169
0
527,132
0
31,089
11,095
14,143
9,615
157,546
2,713,437






Table 14.- Cotton: Exports from the United States, by staple length and by countries of destination,
May 1953 and cumulative totals August 1, 1952 through May 31, 1953 V

Country May 1953 : August 1-May 31
ountry ; 1-1/8 : 1 inch : : : 1-1/8 : 1 inch : :Under
of 1- 1 inch Under Under
destination : inches : to 1-1/8 : inch Total : inches : to 1-1/8 inch Total
I and over : inches : : : and over : inches :


EUROPE
United Kingdom
Austria
Belgium and Luxembourg
Czechoslovakia
Denmark
Eire
Finland
France
Germany (West)
Greece
Hungary
Italy
Netherlands
Norway
Poland and Danzig
Portugal .
Spain
Sweden
Switzerland
Thieste
U.S.S.R.
Yugoslavia ..
Other
Total

OTHER COURERIES
Canada
Mexico
Cuba
Colombia
India
China
Japan
Hong Kong
Korea
Palestine and Israel
Philippine Islands
Australia
Other
Total


S


S





* I


1,164
S : 0
' : 0

S 1,193
S0
S 1,150
0
0
0
0
0


Running
bales

0
293
50
0
0
0
0
3,954
5,173
0
0
438
2,795
S0
0
O0
S0
200
0
0
0
*1i.8o7


Running
bales

5,238
905
555
0
3,235
147


16,748
0
0
14,688
1,301
30QO
.0
0
1,352
3,027
400
:0
0
3.381.


Running
bales

11,242
57
100
0
0
0
0
6,486
304
0
0
2,868
.0
0
0
0
0
223
50
0
0
0


Running
bales

16,480
1,255
705
0
3,235
147
0
2/92,245
22,225
0
0
17,994
.4,096
300
0
0
1,352
3,450
450d
0
0
5,188


Running
bales

1,356
6,309
2,842
0
0
50
0
21,661
43,147
0
0
8,609
S 39,.204
0
S. 0
0
0
619
*;60b


7;917


Run i ng
bales

181,024
30,078
54,705
0
28,308
1,897
4,201
402,198
162,024
0
0
200,322
28,231
9,414
S 0
547
57,746
31,388
21,998
.454
0
49,683


0 O 0 0 0 0 0 0
S1i71 133,081 21,330 2/169,122 133,314 1,264,218 238, 62 21,636,395


17,620
0
500
1,225
0
0
25,009
0
0
876
3,985
267
4,835
54,317


2,156
0
50
117
0
0
14,218
0
6,815
0
0
0
10,016
33.372


20,940
0
550
1,342
1,193
0
40,377
0
6,815
876

267
15,438
1,783


10;292
*0
0
1,104
-36,571

3,064
0
0
700
0
317
75919


179,921
0
7,602
S28,042
598'
0
213,469
0
0
10,395
7,387
9,235
63,583
--20,032


56,947
0
2,535
2,810
0
0
310,599
0
31,089
0
6,756
63
86,044
496, 43


WU1rA t4-tal


1R Rnl


1i 9T6R


9/6a o


391 281 1 784,450


,53? 705 2/2,713,437


Y Preliminary. 2/ Includes 1 bale of Pina exported to


Running
bales

143,497
2,142
8,777
0
0
474
0
34,096
3,283
0
0
26, 045
256
1,000
0
26
4,200
1,185
2,305
0
0
11,576


247,160
0
10,137
31,956
37,169
0
527,132
0
31,089
11,095
14,143
9,615
157,546
1,077,042


..
916 001;,
-6 1


France .


B


- -- 9 -7 ..


Running
bales

325,877
38,529
66,324
0
28,308
2,421
4,201
2/457,956
208,454
0
0
234,976
67,691
10,414
0
573
61,946
33,192
25,903
454
0
69,176




'CS-148


Table 15.- Linters:


Prices, Grades 1-7, by seasons, 1929-51 and


monthly 1952


to date 1/


SYear :


begin
. Augu
A-au


1929
1930.
1931

1933
493,3
1935.
1936
A937
1938
1939
igco
1940
1941
1942
1943
194 .

1947
1948
$49

1950
1;951
1952
.ug.
Sept.
Qct.
Nov.
Dec.
Jan.
Feb.
mar.
Apr.

June


ning: Grade
st 1: 1
: Cents

2/6.16
: 4. 29
: 1.03
2.97
5.49
6.27
: 6.17
6.32
: 4.14
3..96
., 5.14

S5.78
.o 10.41
S:10.53
:8.30
: 6; 8.25
, : 8.25
*: I.. 95
: 11.38
: 9.67
: 12.34


S23.42
14.69
:13.62-
14.
:13.98
14.01
:14.03
13.97
:13.83
.- 13.75
1.
: 11.38


4 .
11 :
18 :


11.50
12.13


.1


IN .. .-


* 0


r1


MaidLi
: Grade
: 2
Cents

2/5.28
3.59
2.52
2.52
5.07
5.71
5.49
5.80
3.59
3.37
4,63

5.31
9.83
9.74
7.18
7.17
7.25
11.71
9.71 .
7.89
10.49

42.00
12.50:
12.00
12.18
12.03
12.21
12.25
12.29
12.271
12.31
12.26
12.23
11.80
11.21
10.85

J1.02
11.30


Grade
5


Mainly chemical


felting
: Grade
: 3
Cents

2/4.16
2.98
1.93
1.96
4.51
5.18
4.97
5.25
3.02
2.80
4.09


Grade
6 :


Cents


Grade
4
Cents

V/3.40
2.05
1.31
1.52
3.93
4.65
.4.42
4.64
2.48
2.14
3.41


Cents

;/3.06
1.63
1.04
1.24
3.57
4.28
3.94.
4,18.
2.06
liJ62
2.89 ;

3. $4
5.16
5.86
3.81
4.00
4.18
8.45
6.04
3.22
4.50

14.96
7.94
5.11
6,68 .
5.25
4.99
.5.06
4.87
4.87 :-
5.05
5.33
5.23
4.95
4.65
4.40.

4.43
4.44


I, Uncompressed in carload lots, f.o.b. cottonseed oil meals (mills at ports not
tnuluded), sand 'based on the official standard of the United States for American
tqtton linters. Prices for Grades 5, 6, and 7 are based on 78 percent cellulose
with a differential for each unit of cellulose up or down. 2/ Average for:;10 months.
N/ ot available.


Production and Marketing Administration.


2/2.26
1.24
0.83
1.04
3.25
4.00
.3.43
3.79
6 6.66 ,
1 .28
S2.62

'3.13
3.50
3.50
3.02
3.21
3.78
8.22
5.73
2.85
3.61

14.19
7.41
4..33
5.99
4.26
.3.98
4.04
* 3.94
3.87
3.89
4.67
4.70
4.49
4.17
3.91


"- I -- -


4.80
9.10
9.05
6.00
6.13
6.25
10,59
8.42
6.27
8.97

S19.77
10.52
10.13
10.52
10.30
10.71
10.56
10.37
10.34
10.51
10.43
S10.25
9.64
8.97
9.00

9.19
9.00


4.19
7.20
7.07
4.88
5.01
5.12
9.30
7.24
4.65
6..76

17.19
8.93
7.04
8.37.
7.39
7.13
S7.25
7.11
7.19
7.20
7?09
7.03
6.57
6.16
6.04

6.26
6.20


3.84
3.85


-- I


I


- 19 -


Grade
-7
Cents

2/1.84
1.01
0.66
.85
3.06
3.75
3.01
3.35
1.30
1.01
2.34

2.81
3.18
3.18
2.58
2.65
3.22
.8.19
5.68
2.71
3.50

14.15
7.29
4.12
5.85
4.o40
3.65
3.69
3.57
3.51
3.50
4.61.
4.76
4.35
4.06
3.86




Table 16.- Unfinished cloth prices, cotton prices, and mill margins on 17 selected constructions,
e_ :_. .. United States, by months, 1944 to date
beginning: Aug. : Sept. : Oct. : Nov. : Dec. : Jan. : Feb. : Mar. : Apr. : May : June July :Average
August: : : : :: : : __:: '
: Cents Cents Cents Cents Cents Cents Cents Cents Cents Cents Cents Cents Cents
: Cloth prices I7 .
1944 : 41.54 F 42.51 2.1 2.51 42.76 4276 42.76 42.76 2.48 42.39 42.39: 4 2.9 42.4
1945 : 42.39 43.9 44.87 44.98 44.98 44.98 44.98 49.28 50.72 50.72 50.72 51.54 :46.94
1946 : 58.85 63.53 66.03 70.99 79.66 83.34 85.42 88.19 86.15 83.54 83.34 86.71 ?7.98
1947 : 90.16 91.27 92.32 97.15 100.29 99.25 96.22 92.39 88.13 85.18 81.83 79.04 9..10
1948 : 77.06 72.48 68.32 66.44 65.79 .65.04 .64.56. 63.7. 62.57 '61.27 60.22 59.99 65.62
1949 : 61.68 64.98 66.32 67.91 68.46 69.07 69.63 68.77 65.63 64.68 64.48 .73.00 67.13
1950 : 81.61 89.50 89.61 90.97 93.39 94.95 96.14 94.44 91.29 88.31 85.10 78.94 89.5
1951 : 72.79 69.00 68.30 70.35 72.12 70.94 69.03 67.40 66.53 64.84 64.97 66.$2 .57-
1952 : 68.49 69.91 70.25 69.13 68.98 68.44 68.44 67.44 66.61 66.88 67.71 67.13 ,.34
S __Cotton 4/ ___
1944 : 1.19- 21.14- -21.325 21.13 21.28 21.37 21.36 '21".50 21.8 22.31 22.40 22i8 21.59
1945 : 22.04 22.19 22.82 23.62 24.17 24.36 25.55 26.36 27.28 27.06 28.78' 33.17 25.62
1946 34.76 36.39 35.70 30.47 31.94 31.74 33.06 34.82 34.90 35.68 36.88 37.2R. .34.466
197 : 34.04 31.22 31.36 33.33 35.39 34.94 32.57 34.13 37.12 37.32 36.49 33.46 134.30
1948 : 30.72 30.72 .30.77 31.09 31.80 32.26 32.26 32.35 32.63 32.51 32.47' 31.81 :3i.78
1949 : 30.77 29.78 29.4 29.74 .30.41 31.17 *32.11 32.05 32.53 32.94 33.82. 37.04 1.82
1950 : 38.58 41.52 40.92 43.45 43.52 45.28 2 46.22 46.23 46.18 46.11 40.91 / 3.5k .
1951 : 36.50 36.29 38.12 42.71 43.63 43.32 41.96 42.12 42.23 40.29 42.09 41.23 q.87
1952 : 41.66 40.19 37.70 36.08 34.86 34.04 34.52 34.92 34.60 34.90 34.89 35.17 36.13
: Mill margins 5/
1944 : 0.35 21.37 21.19 21.38 21.48 21.39 21.40 21 20.64 20.08. 19.99 20.ll 20.89
1945 : 20.35 20.90. 22.05 21.36 20..81 20.62 19.43 22.92 23.44 23.66 21;94 ,. 18.37 21.32
-1946 : 24.09 27.14 30.33 40.52 47.72 51.60 52.36 53.37 51.25 47.86 46.46 -'49149 43.52
1947 : 56.12 60.05 60.96 63.82 64.70 64.31 63.65 58.26 51.01 47.86 45.34 45.58 .56.81
1948 : 46.34 41.76 37.55 35.35 33.99 32.78 32.30 31.35 29.94 28.76 27.75 28.18 33.84
1949 : 30.91 35.20 36.88 38.17 38.05 37.90 .37.52 36.72 33.10 31.74 31.66 35.96 :35.31
1950 : 43.03 47.98 48.69 47.52 49.87 49.67 2/ 48,22 45,06 42,13 38,99 38.03 /45.98
1951 : 36.29 32.71 30.18 27.64 28.49 ." 7.62 27.07 25.28 24.30 24.55 22.88 2539 27-70
1952 : 6.83 29.72 32.55 33.05 34.12 34.40 33.92 32.52 32.01 31.98 32.82 32.56 3.21 :
SAvera wholesale prices of 17 constructions--of unfinished -loth -quoted from trade ouries." 2/' Mrkets
closed. Average for 11 months. 4/ Average prices in the 10 designated markets for the quality of cotton
assumed to be used in each kinds tof .cth through July 1950. Since August 1950 cotton prices are landed prices
for Me..phia territory gchis i even -, ronng lots at qaup 201 *(gr;p B) inil p1n. te. / iference between
acliph vpicesa and prices of cotton. Cotton Branch, Production *an Marketing Adminzistration.




CS-148


Table 17.- Rayon and cotton: Actual prices of yarn and equivalent prices of raw
fiber, United States, average 1930-34, and 1935-39 and 1940 to date

: Actual prices : Equivalent pricess er : .Rp.ts
Yea per poullnd '' pound of usable fiber Rayon Rayon
Year I


begin- Re.yon
.ning filament
,Aug. yarn
': / :
..:Cents


Average
,1930-34
Average
1935-39


1940
1941

1942

1945
1946
.1947 .
1948
1949
1950
1951
195 2/
1952 /

Aug.
Sept.
:O'ct.
:Nov.
-Dec.
Jan.
Feb.
IMar.
Apr.
SMay
June
July 2/


S:/ nRayon
Rayon Cotton _yarn to
staple
sae :Middling: S. M. : cotton
3fber *15/16 : 1-/16o : yarn
3- : inch : inches
Cents Cents Cents Percent

46.83 11.168 13.,54. *, 81

28.56 13.937 14.95 156


13,71
22.33
24.55,
25.07
26.47
31.26
41.83
41..39
S38.90.
38.55
51 18
47.50
41.72


15.34
2.5.01.
'27.45:
27.97
28.97
33.15
43.44
44.87.
41.53.
42.42
54.53
50.16
44.57


136
110
.lb6 .
1o6
98
89
76
-:70,
. .88
'88
- 69
91
100


: 6 .

: .56


Cents

3'1'

36

395
50-
:521,
52
56
62
83
102
.86.
.81-
112
86
78

S82 *
83
84
83
80
,78
78
76

74
,71


: staple : Staple
:fiber! tod''fiber to
:Middlin i..S. M..
: 15/16 -Ii/16
: inch inches
Percent Percent

401 : 346

214. ..*" 'il


191 .171
118 105
107 '96
101 90
99 91
84 79
78' 70
88 81
99 92
953 87
80 75
88" 84
93-. 87

;87 81
.90 :'85
96. .90
93 87
97' 90
99 92
97.: 90
97 9
98 92
89* '- .83
89 : .83
88. 82


/ Wholesale price of Viscose on skeins first quality yarn, 150 denier until
June 1947, since July 1947 "on-cones."
W2/ Wholesale price of Single.40's carded-until-July i946; August 1946, through
December 1951, twisted carded; January 1952 to date, carded, knittinG, singles 30.
3/. wholesale price of Viscose, 1-1/2 denier. Assumes net waste multiplier of
i.05.
':4/Price of Memphis Territory growths, landed Group B iiill points and assuming
Sset waste multiplier of 1.15.
/ Preliminary

.Compiled froa. d&Ea'frbim' ree' 6of L&b6r Statistics' nd' Cott6n Bfanch,''Production
and Marketing Administration...


i..


26.25
26.25
26.25
25.20
26.25
26.25
30.58
36.33
S38.43-
36.75.
40.95
42.00
38.86

42e.o
.42.00
42.00
38.96
38.85
.38. 5.
38.85
38. 85
38.85
35.70
35.70
.35.70.


Cotton
yarn
2/


6


53
55
* 55 --..
I 55
"55
55
63
71
,76
71:.
.77
78
78

:78.
.78.
78
* 73
78
78-
78
.78

78
78.
78..


48.43 51.68 98
46.37 49.55 .94
43,75 46.61 93
41.68 44.59 94
40.12 43.02 97.
3.390. :42.20 -99
39.86 42.96 100
4o.,oi 43.06 103
.39.74 42.40 103
40.27 42.78 105
40.18 42.77 105
.4 0.47. 43.33. 110 .


---


- 21 -


:,:e i.:" i
i





Table 18.- Prices of cotton in specified foreign markets, averages 1935-39-1940-44 and 1945 to date

Year : Egypt : India : Pakistan : Argentina : Peru : Brazil : Mexico
begin- : Alexandria : Bombay Karachi :Buenos Aires: Lima :Sao Paulo: Torreon
ning :Ashmouni: Karnak : Jarilla :4 F Punjab:289 F Sind:289 F Punjab: Type B : Tanguis: : Middling
Aug. 1 : Good : Good Fine :S. G. Fine:S. G. Fine: S. G. Fine :e : Typ Type 5 :15/16 inch
: Cents Cents Cents Cents Cents Cents Cents Cents Cents Cents


Average
1935-39
1940-44
.1945
1946
1947
1948
1949
1950
1951
1952
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
1953
Aug. 6
Aug. 13


: 1/12.54
:1/18.31
:/28.29
: 5/35.95
51.75
S42.10
S5/45.96
67.13
9/50.o6
: 32.42
: 41.71
::1/38.91
S 34.99
: 32.08
: 31.36
: 31.09
: 29.59
: 29.62
: 29.38
: 30.05
: 29.89
: 30.34

30.18
: 29.88


2/
1/31.39
35.28
63.38
67.94
2/47.14
82.88
5/79.24
39.30
63.87
11/47.87
39.56
37.19
35.49
35.17
34.85
35.41
35.12
35.77
35.38
35.95

35.75
35.37


8.31
3/9.90
16.43
16.81
21.47
23.43
17.57
20,17
19.80
18.53
19.04
19.36-
18.62
17.46
17.39
17.44
17.73
18.93
19.17
19.79
18.52
18.85

19.17
19.61


2/

30.1
27.87
42.48
36.26
25.15
32.27
11/32.39
29.33
12/25.48
23.50
21.62
21.22
22.96
22.12
22.64
23.70
24.53

22.92
22.92


2/

6/21.19
1/25.60
33.54
29.11
44.43
37.50
27.24
34.10
11/34.10
30.80
26.91
25.63
22.36
23.51
25.07
23.82
25.44
27.09
28.00

26.22
25.48


2/

6/24.02
7/28.52
36.00
30.08
46.96
39.09
28.59
35.20
11/35.32
31.93
27.52
26.33
24.57
24.57
27.50
26.03
26.95
28.23
28.91

27.32
26.77


12.81
13.98
20.43
30.14
37.53
46.80
41.03
54.55
10/



10/



lo/

10/
12/


10/


10.99
12.82
18.22
24.93
28.4o
8/31.43
6/30.41
/37.20
5/30.56
29.32
31.77
11/31.81
31.11
12/29.84
28.46
27.76
27.34
27.94
28.17
28.36
29.44
29.82

29.94
30.00


SPrice of Ashmouni, Fully Good Fair. 2 Comparable data not readily available. 4/ Average for 3 years.
4 rotation for one month. 5/ Average for 10 months. 6 Average for 7 months. 7/ Average for 9 months.
/ Average for 8 months. 9/ Average for 11 months. 10 No quotation. 11/ Average of 3 quotations. 12/ Average
of 2 quotations. 3/ Prices for last 2 weeks were export prices. 14/ Export prices.
Foreign Agricultural Service.
Compiled from reports of the State Department and converted to cents per pound at current rates of exchange as
reported by the Federal Reserve Board. Based on prices on one day in each week. Ceiling price for Jarilla fine
L eulr15


10.33
10.73
17.93
25.88
28.44
S33.05
32.35
58.79
50.29
44.54
49.03
49.20
48.21
50.96'
48,50
46.93
47.26
37.55
40.51
39.28
4o.06
13/44.54

14/33.73
IY/33.43


11.52
16.23
19.41
28.34
30.08
5/25.25
25.30
44.61
30.58
27.58
29.41
32.48
29.06
26.44
24.92
25.45
26.84
27.12
27.19
27.57
27.45
12/27.08


MrL.iI ... ...


++ ,++,=,,--,,,,


,=.


---





CS-148


Table 19.- Fertilizer applied per acre of cotton and
percentage of cotton acreage.receiving
fertilizer, United States, 1928 to date


Year
beginning
August 1


Fertilizer
applied
per acre


: Percentage of
: acreage
:receiving fertilizer

i


1928
1929

1930
1931
1932
1933
1934
1935
1936
1937
1938
1939

1940
1941
1942
1943
1944
1945
1946
1947
1948
1949

1950
1951
1952
1953


0~ S
0
*02*@S ge*eeeeeee
*gg ge g~e..egeet
C



C

6SUS ege*@eg gee ....
*
eg. ..e...eeee.*.
~,C
U 666 CSSOCO OOO*O*
C
*0 See OU 5.00 Beee* 0
~I~9
.me.... *e .e..*e
C
* g....ege........
0
geggoeg e.......e.@e
e...SgOO~eeg ee
~~ a
,~~ a
S
geese. 0*@*O gee. eg
C3 S
em...... uggegS gee.


I/ Preliminary.


Crop Reporting Board.


S Pounds


Percent


268
267


260
231
1 .205
:240
245
259
260
279
284
280


277
285
293
312
326
337
339
340
340
344


333
S338
343
355

t


57
52
54
58


__


_ ~ __ _~_~_~_~_ ~


_ I___ i l i


3 -11.


- ~ 1


- 23 -




Table 20.- Cotton: Imports into the United States, by months, 1946 to date 1


Year :
begin- Aug. : S
ning
August
: Baes B


1946 : 17,802 4'
1947 : 4 c84 4i
148 : 5,,847 91
194Q : 5,324 3
1950 : 4,730
1951 : 3,637
1952 1/: 7,7I7


ept.
*


ales


o,813
2,715
8.,368
2,i80
4,93P3
2,3020
0,>09


Oct.
*


Bales
2/

36,050
97,729
11,820
13,739
12,687
5,722
7,735


Nov. Dec.
*


Bales
2/

51,005
1.0,673
51
12,419
9,118
1,046
12,362


Bales
2/A

14,569
15,319
5,443
12,895
6,407
819
33,268


Jan.
*


Bales
2/

10,499
9,251
9,004
1.0,982
2,342
15,453
25,322


Feb. i4ar.
*


Bales
2/

10,337
19,431
8,468
70,575
94,494
35,470
27,055


Bales


12,083
10,047
7,595
60,578
3,197'
1,652-
12,495


Apr. I Hay June
B *
Bales Bales Bales
2/ .22/.


9,898
14,344
4,497
8,436
9,781
1,449
33,122


10,730
7,846
3,014
2,513
16,102
3.13
15,938


62,029
-3,.0o0
-:4 ,P57

18,412
.4, 36'


July : Total

*_


Bales
_L


Bales
2/_


8,163 283,998
3,07:. 243,507
11,218- 173,382
2,332 '253,533
7,531 189,104
'6,865 79,173


/ Imports for consumption. 2/ Bales of 500 :pounds. 3/ Preliminary.
Compiled from reports of Bureau of the Census.


Table 21.- Cotton, American: Exports from the United States, by months 1946 to date ;


Year :


begin- :
ning
August




1946 :
1947
1948 :
1949 :
1950
1951 :
1952 3/:


Aug. Sept. 0 Oct.


Dec. i Jan. Feb.


Miar.


Apr.


iHay June July.. Total


* .


1,000
bales


413.4-
37.1
114.6
167.6
356.1
145.8
106.9


1,000
bales '
2,'

242.2
123.5'
170.9;
211.4-
372.5
356.2
240.5
a '


1,000 1,000
b" ales babies


Ic3.8 455.3
13i3.- I 16.6-
246.1 428'.2
4154.1: 433.6'
28B-.S 371-.9:
586.6 : 804,9:
295.5 337.2


- balds

.c .
: 361 .-4
S99.16:
S521.6
656.9
S48.5
:979.8
466..o


1,COC
Ibiles



2(.15 .:7
2141
402.),
529.9

676.3
.291-.8


1 .Q- ,Q;0 ,"
bales bal'a



16 35: : 2611.2,
497-.1: :551.7:
654 .9-: 685,;8
:48',6: 354.3:
587:8- -419:1'
259.2 246.5


L.,00
bale'4
2/_

275.1
155.1
o90.2
469. 4
471.1
834.2
208.2


] o '
1. ,00 1,000
3 bales bales
2/ 2/L


I/ Totals were made before data- iere rounded to thousands. 2/ Running bales. 2/ Preliminary
Compiled from reports of the Bureau of the Census.


2 OCO
bales'
.2/

83.9
148.6
221.3
266.8
129.1
48.1


243.5
204.8
464.0
539.3
371.4
315.8
260.9


302.8
132. s
508.2
740.7
204.0
264.4


1,000
Sales


3,544.0
1,'968.0
4,746.9
5,771.4
4,108.0o
5,519.0"


~


I[ II I I I


_ _


I I


. | |


. .. ........... ... ... ........ ........ ..


............ ... cic~u~i*IPli* urg~


SIt


1"'Ov


L


i
c






Table 22.- Cotten: Spot sales reported in the 10 designated markets, by months, 1946 to date 1/


I.'


Year .
beginning Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June. .i Total
August .
*eg Ae : : : : : : : : ,
: 1,000 1,000 ,000 1,000 1,000 : 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000
: running. running rumnin running running running running running running running running running running
bales b ales al bales bales bajlea btal bales bales bales bales bales bale

1946 : 287.8 537.6 826.3 683.2 -730.9. 5427 519.8 155.3 340.8 251. 137.7 238.1 5,551.7
1947 287.0- 872.7 0 3.3 1,380.7 '805.9 598.6 373.0 121.o 190.1 182.1 170.7 220.1 7,81b.
1948 : 477. 4 769.4 1,500.3 920.1 912.0 910.2 569.6 517.9. 152.2 163.0 20o.1 227.1 7,923.6
1949 471.3 1,519.2 1,751.7 1,580.6 1,235.4 1,086.6 699.7 445.7 193.1 665.9 502.3 603.6 11,055.0
1950 :1,285.2 1,379.4 1,159.2 1,199.2 ..693.6 721.3 2/ 344.9 4. 262.5 214.9 159.2 161.7 7,881.2
1951 : 582.7 1,026.0 1,753.2 1,641.6 980.3 811.6 138.7 179.9 334.1 281.9 275.7 ... 230.1 8,865.8
1952 3/ : 441..0 1,119.0 1,682.0 1,129.0 730.0 636.0 161.0 378.0 317.0 200.0 196.0- 257.0 7,879.0
1953 3/ :

1/ Includes Charleston, Augusta, Savannah, Montgomery, New Orleans, Memphis, Little Rock, Dallas, Houston and Galveston until Dec. 1950 when Atlanta
replaced Savannah.
NBo sales. "
3/ Preliminary.

Compiled from records and reports of Cotton Branch, Production and Marketing Administration. ..


Table 23.- Cotton, all kinds: Mill consumption, United States, by months, 1946 to date


Year .
beginning Aug. Sept. Oct No. : Deo. Jan.. Feb. Mar Apr. May June July Total
August :
:Bales 1/ Bales 1/ Bales Bales // Bales // Balesu B.Bales 1/ Bale 1/ Bales'l i Bales 1/ Bales a les / Bales I/ Bales 1/

1946. :857,768 817,661 933,615 878,025 776,35e :9.49,991 839,375 875,306 882,390 807;135 729,1412 .677,780 10,024,811
'1947 :712,864 .728,606 .828,576 759,866 754,847 :'860,704 785,677 879,967 829,960- "785,516 '80,347 627,462. 9,354,392
1948 :728,863. .738,794 696,505' '685,881 675,466 674,283 640,179 721,378 598,502 580,476 600,651 454,4t6 7,795,404
1949 : 663,008 708,623 725,628 772,216 733,833 2 729,738 739,482 3/900,126 710,662 718,826 3/841,868 606,878 8,850,888
1950 : 798,474 3/969,555 836,788 1,012,642 784,636 3/1,047,275 898,991 903,041 3/985,227 832,561 817,154 3/768,072 1.,654,416
1951 753,621 721,248 3/906,750 731,137 671,803 3/ 923,219 769,641 735,251 3/848,055 686,951 674,773 3/697,637 i 9,120,086
1952 / : 744,383 736,248 3/915,593 759,73.7. 697,9864. 893,806 765,778 772,176 3/905,071 747,789 741,929 3/739,050 9,419.544
1 Aim,. .a an 2n nIQ, eha... dnunt-M, ronii bales as half bales: Forein bales of 500 pounds. "


SSince January 1950 data cover a week .period except as noted. -
A 5 week period.
Preliminary.


a *:
I..


Compiled from reports of the Bureau of the Census.


F


"t


+1. :
~;' r





AUGUST 1953


- 26 -


Table 24.- Cotton: Loan rate per pound and cotton entering loan,
United States, 1945 to date


, r


Year :
beginning:
-Aumust


Loan rate


7/8 inch


: 15/16 inch


: Production


: Entering loan


:Percentage of crop


1945
1946
1947
1948
1949


1950
1951
1952
1953 2/


Cents

19.84
22*63
26.49
28.79
27.23

27.90
30.46
30.91
30.80


Cents

21.09
24.38
27.94
30.74
29643

29.45
31.71
31.96
32.70


1.000 bales V 1.000 bales f


8,813
8,517
11,557
14,580
15,909

9,908
15,072
14,951


Ia


216
146
280
5,272
3,190

8
1,115
2,298


Percent


2.5
1.7
2.4
36.2
20.1

0.1
7.4


/ Running bales. 2/ Preliminary.

Loan rates and quantity entering loan from reports of Commodity Credit Corporation.


Table 25.- Cotton under Commodity Credit Corporation, United States,
1950, 1951, and 1952 crops


9i


: Season beginning August 1_
: 1950 __ 1951 : ,, 1952


Date / Placed
in :Repay-
loan a/:ments


a i a ....


Oct. 31
Nov. 28
Jan. 2
30
Feb. 27
Mar. 27
May 1
29
July 3
10
17
24
31
Aug. 7
14
21


: 1,000 1,000
:running running
: bales bales
a-rn


2.8
4.4
6.6
7.9
7.9
7.9
8.0
8.0
8.0
8.0
8.0
8.0
8.0
8.0
8.0


0
0.1

.8
1.1
2.4
4.3
4.8
5.0
5.0
5.0
5.0
5.1
5.1
5.1


Out- 'Placed '
"s a:Repar.
:stand- in
ing 2/ loan 2/.*m


1,000 1,O00.
running running
bales bales


2.0
3.8
5.9
6.6
6.8
5.5
3.7
3.2
3.0
3.0
3.0
3.0
2.9
2.9
2.9


694.5
805.0
846.4
884.2
920.0
961.7
1,039.7
1,111.2
1,114.9
1,114.9
1,114.9
1,114.9
1,114.9
1,114.9
1,114.9


1,000
running
bales

2.9
57.9
308.3
435.1
499.0
536.6
643.5
675.2
757.4
773.3
787.4
803.6
819.7
831.7
800.1


Cut-
stand-
ing 2/


'Placed
i :Repay-
loan 2/:ene :


Out-
stand-
ing 21


- ---- --- LI


1,000 1,000 1,000 1,000
running running running running
bales bales bales bales


563.1
720.6
528.6
446.8
407.9
409.1
345.5
385.7
357.4
341.6
327.5
311.3
295.4
283.2
234.9


101.9
414.6
1,063.2
1,703.5
1,969.6
2,087.5
2,280.7
2,312.6
2,307.8
2,307.7
2,307.7
2,297.5
2,297.5


0.1
1.3
18.4
50.2
103.6
183.6
256.2
342.3
447.2
464.3
482.1
491.9
546.3


100.4
409.1
999.3
1,588.0
1,848.6
1,903.8
2,108.3
1,970.4
1,860.6
1,843.4
1,815.4
1,805.6
1,751.3


Reports of Commodity Credit Corporation.


/ Dates refer to end of business on Fridays for 1952 and corresponding Thursdays
in preceding years. In case of holiday data are for preceding business day. g/ In
eludes cotton "in process." 3/ Excludes quantity "in process."


-I -


z -- -- --


i


__ __ _


i -


2 Quantity


--


Y
- -- --~~~ --




Table 26.- Cotton: Futures prices per pound at New York, monthly average 1952-53


Ye 1 1 Month of delivery
Year : 1952 : 1953 : 1954
month Oct. Dec. : Jan. Mar. May July Oct. : Dec. Jan. Mar. May July Oct. Dec.
: Cents Cents Cents Cents Cents Cents Cents Cents Cents Cents Cents Cents Cents Cents
1952-53:
Aug. : 38.75 38.60 38.56 38.49 38.31 37.73 35.80 35.57 --- --- ---
Sept. : 39.18 39.16 39.14 39.10 38.97 38.44 36.11 35.92 35.67 35.59
Oct. : 1/38.06 37.22 37.29 37.43 37.42 37.08 35.29 35.22 35.20 35.17 -
Nov. -- 35.32 35.46 35.90 36.15 36.05 34.75 34.78 34.77 34.76 34.71
Dec. : 2/34.00 --- 34.17 34.61 34.86 34.30 34.27 --- 34.24 34.23 -
Jan. --- --- --- 33.00 33.46 33.81 33.75 33.81 --- 33.94 33.94 33.83 -
Feb. : --- 32.94 33.27 33.59 33.70 33.78 --- 34.00 34.03 33.84 -
Mar. : --- 3/33.57 33.51 33.84 33.70 33.77 --- 33.85 33.82 33.54 -
Apr. : -- --- 33.33 33.42 33.44 33.50 --- 33.61 33.58 33.31 4/32.78
May : ---- 5/33.93 33.89 33.71 33.69 --- 33.76 33.74 33.43 32.86
June : -- -- 33.49 33.80 33.89 -- 34.01 34.01 33.78 33.13 6/33.@8
Jy : --- --- --- --- --- 33.31 33.94 34.16 -- 34.36 34.39 34.20 33.44 33.43
If Average through noon of October 15, 1952. 2/ Average through noon of December 12, 1952. 3/ Average through noon of March 13,
1953. 4/ Average for last 12 business days of April. 5/ Average through noon of May 13, 1953. 6/ Average for last 12 business
days of June. 7/ Average through noon of July 15, 1953.
Compiled from reports of the New York Cotton Exchange Service.


Table 27.- Cotton, American Middling 15/16 inch: Seasonal average spot price per pound,
at each of the 10 designated markets, 1947 to date

Ye.Charles- : Atlanta New ttle :
beginning : h es Augusta : : Montgoery: ans Memphis : it Dallas : Houston : Galveston: Average
August : :: : : :
: Cents Cents Cents Cents Cents Cents Cents Cents Cents Cents Cents


1947
1948
1949
1950
1951
1952


34.82
32.36
32.17
42.99
39.58


35.25
32.82
32.69
43.11
39.93


34.76
32.43
32.38
43.19
39.74


34.54
32.17
31.95
42.69
39.46


34.41
31.94
31.60
42.30
39.37


34.47
32.11
31.76
42.45
39.28


34.42
32.05
31.61
42.33
39.28


34.31
31.80
31.24
42.24
39.14


34.39
31.92
31.44
42.25
39.20


34.40
31.90
31.45
42.25
39.20


.34.58
32.15
31.83
42.58
39.42
34.52


Cotton Branch, Froduction and Marketing Administration.


Y/ Prior to December 4, 1950 prices were at Savannah.


1~ s


I







U. S. Department of Agriculture
Washington 25, D. C.


UNIVLtKII Y UP- t-LUKIUA


Penalty for prlve 31262087397625
payment of postage $30O


OFFICIAL BUSINESS

BAE-CS-148-8/53-2300
Permit No. 1001


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