Weekly Cotton Market Review

MEMPHIS - Aug 24/07 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 7 24.

August 24, 2007

Average spot cotton quotations were 149 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 51.54 cents per pound for the week ended Thursday, August 23.  The weekly average was down
from 53.03 cents reported last week but up from 48.36 cents reported the corresponding period a year ago.
Daily average quotations ranged from a low of 50.68 cents on Friday, August 17 to a high of 51.82 on
Thursday, August 23.  Spot transactions reported in the Daily Spot Cotton Quotations for the week ended
August 23 totaled 23,542 bales compared with 10,141 last week and 9,569 a year ago.  Total spot
transactions for the season were 51,833 bales compared to 62,904 bales the corresponding week a year
ago.  The New York October futures settlement price ended the week at 56.40 cents compared to 55.23
cents reported last week.

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

           Adjusted World Price (AWP)       49.30             ELS Competitiveness payment          0.00
          Loan Deficiency Payment (LDP)    2.70              Coarse Count Adjustment (CCA)     0.00
                       Source: Farm Service Agency, FSA, USDA

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STAT News Service