Weekly Cotton Market Review

MEMPHIS - Feb 9/07 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 1 9.

Spot cotton quotations were 20 points lower than the previous 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 49.31 cents per pound for the week ending Thursday, February 8.  The weekly
average was down from 49.51 cents reported last week and 52.56 cents the corresponding period a year
ago.  Daily average quotations ranged from a high of 50.13 cents on Monday, February 5 to a low of
48.40 cents on Thursday, February 8.  Spot transactions reported in the Daily Spot Cotton Quotations
for the week ending February 8 totaled 27,916 bales, compared with 45,166 last week and 82,731 a
year ago.  Total spot transactions for the season were 796,554 bales compared to 1,386,322 bales the
corresponding week a year ago. The New York March futures settlement price ended the week at 52.41
cents, compared to 53.57 cents reported last week.

	
Adjusted World Price		43.65		ELS Competitiveness Payment	0.00
Loan Deficiency Payment (LDP)  8.35		Coarse Count Adjustment (CCA) 0.00

          Prices are in effect from Feb 2-Feb 8, 2007
          Source:  Farm Service Agency, FAS, USDA

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STAT News Service