Weekly Cotton Market Review

MEMPHIS - Jun 29/07 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 5 29.

June 29, 2007

Spot cotton quotations averaged nearly two cents higher 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 53.82 cents per pound for the week ended Thursday, June 28.  This was the highest weekly average
since the week ending June 10, 2004, when the average was 55.48 cents.  The weekly average was up from
51.84 cents reported last week and 46.86 cents reported the corresponding period a year ago.  Daily average
quotations ranged from a low of 53.43 cents on Monday, June 25 to a high of 54.14 cents on Thursday, June
28.   Spot transactions reported in the Daily Spot Cotton Quotations for the week ending June 28 totaled
33,118 bales compared with 35,137 last week and 51,784 a year ago.  Total spot transactions for the season
were 1,662,222 bales compared to 1,884,694 bales the corresponding week a year ago. The New York
October futures settlement price ended the week at 59.90 cents, compared to 60.00 cents reported last week.
The New York July futures settlement price ended the week at 57.00 cents, compared to 56.50 cents reported
last week.

 Prices are in effect from June 29  through July 5, 2007

 Adjusted World Price (AWP)     51.45    ELS Competitiveness Payment     0.00
 Loan  Deficiency Payment (LDP)  0.55    Coarse Count Adjustment (CCA)   0.00

Source: Farm Service Agency, FSA, USDA

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STAT News Service