Weekly Cotton Market Review

MEMPHIS - Feb 16/07 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 1 16.

Spot cotton quotations were 98 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 48.33 cents per pound for the week ending Thursday, February 15.  The weekly
average was down from 49.31 cents reported last week and 52.46 cents the corresponding period a year
ago.  Daily average quotations ranged from a high of 48.65 cents on Friday, February 9 to a low of
47.93 cents on Wednesday, February 14.  This was lowest reported average since November 30, 2006
when the average was 47.28 cents. Spot transactions reported in the Daily Spot Cotton Quotations for
the week ending February 15 totaled 21,222 bales, compared with 27,916 last week and 40,927 a year
ago.  Total spot transactions for the season were 817,776 bales compared to 1,427,249 bales the
corresponding week a year ago. The New York May futures settlement price ended the week at 52.23
cents, compared to 52.94 cents reported last week.  The New March futures settlement price ended the
week at 53.65 cents, compared to 52.41 cents the previous week.

	        Adjusted World Price  (AWP)     42.61
		  Loan Deficiency Payment  (LDP)  9.39
		   ELS Competitiveness	          0.00
		   Coarse Count Adjustment  (CCA)  0.00

              Prices are in effect from Feb 16-Feb 22, 2007
              Source:  Farm Service Agency, FAS, USDA

---

STAT News Service