South Plains Cotton Update

I don't have to remind anyone that today is the 8th anniversary of the terrorist attacks on our country on September 11th of 2001. The New York Cotton Exchange was a tenant at 4 World Trade Center on the 8th floor until that day. It was later re-opened in temporary facilities on Long Island that had been set up following the 1993 World Trade Center Bombing. I was at the NAPA in Deming when my wife called to tell me something bad was happening in New York. I went to my cousin's tire shop, Tinley Tee Tire, to pick up farm tires and watched the Twin Towers collapse on national television. I returned to our watermelon packing shed to spend the day watching TV with a pair of truck drivers from South Texas who were supposed to haul 2 loads of our watermelons to the Hunt's Point Market in the Bronx, New York. No loads went out that day. I knew immediately that our families' lives would never be the same again. My wish for everyone today is to remember the truly important things in life on this day.

Estimated cotton production in the Texas High Plains was lowered slightly by NASS from 4.165 MB to 4.12 MB. Recent rains probably won't change that situation, as they have come too little too late for dryland cotton and only serve to save a few dollars of irrigation expense for irrigated growers. A warm dry August did as much to finish out late planted irrigated cotton as it hurt dryland acreage, so that on balance we are about in the same overall position we were a month ago. The new number also falls right in line with recent local estimates derived at the bi-weekly Plains Cotton Advisory Group meeting last Friday morning. Rains over the past week to 10 days have been both spotty and widespread. We have not had any large general rains to sweep across the plains.

After a rather disappointing export sales report of only 144,900 total bales for the week ending 9/3/2009 and a World Ag Supply Demand report that was neutral at best, New York futures trade more than 100 points higher today before closing up only 32 at 6124 for the December contract. The Ag Market Network will feature Peter Egli, Plexus Cotton Limited, on the monthly teleconference this coming Tuesday, September 15th at 7:30 a.m. Hopefully he will have some useful insight into what is going on with this market. The Lubbock County Marketing Club will be meeting at Posey Gin between Lubbock and Slaton on US Highway 84 to listen. If you remember, Peter Egli is the one who told us on the teleconference last year that we were already in a recession about 8-9 months before the official declaration. Should be very informative

For more information on cotton marketing be sure to check out Dr. John Robinson's weekly cotton marketing newsletter by clicking on Market Outlook under the Resources drop down list from the Extension Ag Eco website agecoext.tamu.edu. Also, to listen to recordings of the Ag Market Network conference calls, as well as weekly commentary from Mike Stevens, go to AgMarketNetwork.net.

Remember to tune in every Thursday at 1:30 p.m. for the South Plains Cotton Market Update live on Ag Talk on Fox Talk 950.