Evening star., 1934-06-30
COTTON TOUCHES
NEW HIGH LEVELS
Reaction Develops Late in
Week as Stocks and
Grains Sag.
BY the Associated Press.

BY the ASsOClAted Press
NEW YORK. June 30.--The cotton
market was chiefly interested In the
weather and crop news during the last
week. with prices making new high
ground for the movement on reports
of continued drought in the Southwest.
After selling up to 1882 for October,
or the highest price touched in the
market here since the advance of last
February and recovery Of about lb3
PORTS from the low levels reached by
that delivery at the beginning of MAY.
rather q reactionary sentiment de-
veloped. This was promoted by reac-
tions in the stock and grain markets,
with october closing last night at
1885 compared with 1918 at the
close of the previous Friday.
Weather conditions in the Eastern
belt have been considered generally
favorable and higher temperatures are
supposed to have been a check to
weevil activity both in some eastern
and central sections. as well as the
Southwest. At the same time there
was more or less uneasiness over the
eastern belt outlook owing to an i'm
preston that recent rains produced
sappy plants. and at present most
traders consider prospects in the CEN
traI belt relatively more favorable
than elsewhere.
While many private reports have
been reaching the trade from Texas.
the last weekly weather report said
cotton continued generally in fair to
good condition. although many plants
were small, and one of the private re-
ports from the Southwest this morn
ing said that the cotton might be able
to hold its own for another two weeks
in most sections. Drouthy conditions
however. are generally supposed to be
growing more serious and reports of
deterioration are expected TO become
more general If they continue next
month.
Three private end-June crop reports
have been issued, with figures on the
indicated acreage ranging from about
28. SIC, 900 up to 30, 449 900 bales, while
estimates of the crop indication have
ranged from 1881 900 up to lo,545 ,00e
bales The trade is now awaiting the
Government report on July to crys-
talize sentiment as to the area under
cultivation.
Hester's Weekly Statement
Comparisons are TO actual dates. not
to close OF correspondents weeks in thou
sand baleSl
two years aso. 80; for the month. 3I".
year sso ~; two years ago. 2"l; for
season l2.Sl1; wear sgo. l+.054; two
years ago u 500.
Port receipts for season. $50 $40; year
Overland TO mills and Canada for sea
son. sI3 year ago go; two years ago.
634
Southern mill takinss for season. 1853;
year aRo. 4..o2; Two years aso. 500.
1O4; year ago minus IS; two years aso.
s3s
FOREIGN exports for week l3o; year ago
143; two years ago IS; for season. SO
Northern and Canadian spinners' TAX
ines for week. IS: year ago. Al; for sea
son. $50: year aso. 1.5l2.
American cotton throuehout the world,
This week l6i: year ago, 365; two
years aso 1913.
Total since August I. 13.5o4; year aso
l3.ss3; two years ago. 13.345.
Statement OF worlds visible supply:
Total visible this week. s.3sa; week
ago a624
OF this total American this week, 6o67.
! week ago 6.l5l; year ago. 1.34l' two
All other kinds this week. o.3?": week
ago, 23a5: year aso. 1913; two years
Visible in United States this week
Visible in other countries this week
4355; year ago 4.l42.