Weekly Cotton Market Review

MEMPHIS - Feb 23/07 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 1 23.

Average spot cotton quotations were virtually unchanged from 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 48.35 cents per pound for the week ending Thursday, February 22.  The
weekly average was up from 48.33 cents reported last week but down from 52.56 cents reported the
corresponding period a year ago.  Daily average quotations ranged from a low of 48.19 cents on Friday,
February 16 to a high of 48.62 cents on Thursday, February 22.  Spot transactions reported in the Daily
Spot Cotton Quotations for the week ending February 22 totaled 15,061 bales, compared with 21,222
last week and 21,884 a year ago.  Total spot transactions for the season were 832,837 bales compared to
1,449,133 bales the corresponding week a year ago. The New York May futures settlement price ended
the week at 53.17 cents, compared to 52.23 cents reported last week.

	

Adjusted World Price (AWP)     42.70   ELS Competitiveness Payment  0.00
Loan Deficiency Payment  (LDP)   9.30   Coarse Count Adjustment (CCA) 0.00
        Prices are in effect from Feb 23-Mar 1, 2007
        Source:  Farm Service Agency, FAS, USDA

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STAT News Service