No Deliveries Reported

©Debra L Ferguson Stock Photography The LSU AgCenter will hold a series of meetings to help rice farmers prepare for their 2019 crop. Don Groth, resident coordinator of the LSU AgCenter H. Rouse Caffey Rice Research Station, said farmers will be able to get advice on choosing varieties, land preparation, controlling pests and the new farm bill. Farmers also will hear updated information on new technologies.

Spot quotations averaged 225 points lower than the previous week, according to the USDA, Agricultural Marketing Service’s Cotton and Tobacco Program. Quotations for the base quality of cotton (color 41, leaf 4, staple 34, mike 35-36 and 43-49, strength 27.0-28.9, and uniformity 81.0-81.9) in the seven designated markets averaged 73.12 cents per pound for the week ending Thursday, December 20, 2018.

Cotton seedling at sunset. Photo: ©Debra L Ferguson Cotton prices suffered a major setback this week as the FED’s decision to continue its interest rate increase was followed by a triple digit slide to just below its major support level of 75.00-75.50 cents. The Thursday settlement of 75.05, essentially the low of the day and week, subjects the market to a probable dip down to the 72-73 cent mark, or nearly a 15% decline from the tariff announcement level of near 84 cents.