Weekly Cotton Market Review

MEMPHIS - Oct 19/07 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 9 19.

Average spot cotton quotations were 87 points 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 58.89 cents per pound for the week ending Thursday, October 18.  The weekly average was up
from 58.02 cents reported last week and 44.69 cents reported the corresponding period a year ago.   Daily
average quotations ranged from a low of 58.41 cents on Monday, October 15 to a high of 60.04 cents on
Thursday, October 18.  Spot transactions reported in the Daily Spot Cotton Quotations for the week ending
October 18 totaled 10,515 bales compared with 12,474 bales last week and 40,174 a year ago.  Total spot
transactions for the season were 287,471 bales compared to 200,960 bales the corresponding week a year
ago.  The New York December futures settlement price ended the week at 65.15 cents compared to 63.73
cents reported last week.

Prices are in effect from October 19-25, 2007

  Adjusted World Price  (AWP)  53.53       Loan Deficiency Payment (LDP)   0.00
  ELS Competitiveness Payment   4.29       Coarse Count Adjustment  (CCA)  0.00

Source:  Farm Service Agency, FSA, USDA

---

STAT News Service