U.S. upland classing slowed to 222,237 bales. Facilities on the Texas High Plains graded 58%. Ninety-six percent of upland crop classed. A few larger gins continued operating in Alabama and Georgia.

U.S. cotton futures began February on a positive note Monday, with spot March finishing on a moderate gain and a six-session high close on hefty volume.

• March closed up 66 points to 61.79 cents, in the upper quarter of its 115-point range from down 28 points at 60.85 cents to up 87 points at 62 cents. It posted the session low on the opening overnight and settled back above its nine-day and 18-day moving averages.
• May settled up 60 points to 62.20 cents, while December finished up 45 points to 61.84 cents.
• Volume rose to an estimated 40,835 lots from 39,243 lots the previous session when spreads accounted for 21,240 lots or 54%, EFP 951 lots and EFS 163 lots. Options volume totaled 2,752 calls and 1,596 puts.

Classing of U.S. upland cotton totaled 222,237 running bales during the week ended Thursday, down from 250,133 RB the previous week, according to the latest USDA weekly figures.

This brought the upland total for the season to 11.695 million RB, down 22% from 14.901 million RB graded through the corresponding period last season. The Texas High Plains offices classed 129,373 RB — 69,985 at Lubbock and 59,388 at Lamesa — or 58% of the U.S. total.

Cotton tenderable on cotton futures contracts rose to 52.6% from 49.6% the previous week and totaled an unchanged 55.6% for the season. A year ago, tenderable cotton for the season accounted for 68.7%.

Ninety-six percent of the estimated upland crop had been classed, compared with 98% a year ago.

Classing of 9,109 RB of Pima, down from 12,568 RB the prior week, hiked the season’s total to 231,346 RB, compared with 414,095 RB of extra-long-staple cotton graded a year ago.

Modules were moved to gin yards and several fields were harvested in the Texas Plains, USDAΆs Agricultural Marketing Service reported in a weekly cotton review.

More gins finalized operations for the season and some gins planned to restart in February to finish processing modules. Subsoil moisture was reported adequate to surplus in 95% and 82% in the northern and southern High Plains, respectively.

A few larger gins continued daily operations in Alabama and Georgia, but most gins had finished for the season elsewhere in the Southeast. Classing at the Macon facility declined to 24,051 RB from 52,938 RB.

Flood waters were receding in parts of the North Delta, but parts of many fields were under standing water there and also in the South Delta.

Producers in the Rio Grande Valley, the Coastal Bend and South and East Texas readied fields ahead of planting. Industry people continued to report expected increases in planted acreage.

Sources also said a substantial increase is expected in cotton plantings in Central Arizona, where upland producers now are reported planning to expand acreage by 50%. Limited grain contracts and heavy hay supplies were said to leave growers few row-crop alternatives.

The California Department of Water Resources reported on Jan. 27 that the Sierra Nevada Mountain range snowpackΆs statewide water content was 115% of the January average, which is 65% of the April 1 average. Grower planting intentions remain uncertain in the San Joaquin Valley.

Futures open interest increased 951 lots Friday to 198,357, with MarchΆs down 681 lots to 109,423 and MayΆs up 2,816 lots to 45,878. Cert stocks declined to 27,784 bales from 28,706 bales.