Weekly Cotton Market Review

MEMPHIS - Aug 17/07 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 7 17.

Average spot cotton quotations were 109 points lower than the previous week, according to the USDA,
Agricultural Marketing Service’ 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 53.03 cents per pound for the week ended Thursday, August 16.  The weekly average was down
from 56.12 cents reported last week but up from 48.29 cents reported the corresponding period a year ago.
Daily average quotations ranged from a high of 54.21 on Friday, August 10, to a low of 50.34 cents
Thursday, August 16.  Spot transactions reported in the Daily Spot Cotton Quotations for the week ended
August 16 totaled 10,141 bales compared with 7,871 last week and 15,414 a year ago.  Total spot
transactions for the season were 28,291 bales compared to 53,335 bales the corresponding week a year
ago.  The New York October futures settlement price ended the week at 55.23 cents compared to 60.25
cents reported last week.

Prices are in effect from August 17 through August 23, 2007

Adjusted World Price (AWP) 51.40      ELS Competitiveness payment          0.00
Loan Deficiency Payment (LDP)    0.60    Coarse Count Adjustment (CCA)     0.00
Source: Farm Service Agency, FSA, USDA

---

STAT News Service