Weekly Cotton Market Review

MEMPHIS - Jan 26/07 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 0 26.

Spot cotton quotations were almost unchanged from the previous reported week, according to the USDA,
Agricultural Marketing Service’s Cotton Program.  Quotations for the base quality of cotton (color 41, leaf
4, staple 34, mike 35-36 and 43-49, strength 26.5-28.4, uniformity 81) in the seven designated markets
averaged 50.07 cents per pound for the week ending Thursday, January 25.  The weekly average was up
from 50.06 cents reported last week but down from 52.83 cents the corresponding period a year ago.  Daily
average quotations ranged from a low of 49.85 cents on Monday, January 22 to a high of 50.37 cents on
Tuesday, January 23.  Spot transactions reported in the Daily Spot Cotton Quotations for the week ending
January 25 totaled 45,166 bales, compared with 36,498 last week and 130,629 a year ago.  Total spot
transactions for the season were 721,215 bales compared to 1,261,000 bales the corresponding week a year
ago. The New York March futures settlement price ended the week at 54.37 cents, compared to 54.53 cents
reported last week.

USDA announced on January 25 that the Adjusted World Price (AWP) was 44.07cents per pound for the
period January 26 through February 1, the Loan Deficiency Payment (LDP) rate for Upland cotton will be
7.93 cents per pound and the Extra Long Staple (ELS) Competitiveness Payment will be 0.00 cents per
pound.
							                   Source:  New York Board of Trade

---

STAT News Service