Weekly Cotton Market Review

MEMPHIS - Aug 10/07 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 7 10.

Average spot cotton quotations were 69 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 56.12 cents per pound for the week ended Thursday, August 9.  The weekly average was down
from 56.81 cents reported last week and but was up from 49.37 cents reported the corresponding period a
year ago.  Daily average quotations ranged from a high of 57.21 cents on Friday, August 3 to a low of
55.21 cents Thursday, August 9.  Spot transactions reported in the Daily Spot Cotton Quotations for the
week ended August 2 totaled 7,871 bales compared with 20,944 last week and 18,904 a year ago.  Total
spot transactions for the season were 18,150 bales compared to 19,017 bales the corresponding week a
year ago. The New York October futures settlement price ended the week at 60.25 cents, compared to
62.60 cents reported last week.

        Prices are in effect from August 10 through August 16, 2007

Adjusted World Price (AWP)   53.92   ELS Competitiveness payment          0.00
Loan Deficiency Payment (LDP)    0.00   Coarse Count Adjustment (CCA)     0.00
Source: Farm Service Agency, FSA, USDA

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STAT News Service