Weekly Cotton Market Review

MEMPHIS - Oct 26/07 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 9 26.

Average spot cotton quotations were one cent 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 59.91 cents per pound for the week ending Thursday, October 25.  The weekly average was up
from 58.89 cents reported last week and 45.58 cents reported the corresponding period a year ago.   Daily
average quotations ranged from a high of 60.36 cents on Friday, October 19 to a low of 59.26 cents on
Thursday, October 24.  Spot transactions reported in the Daily Spot Cotton Quotations for the week ending
October 25 totaled 29,369 bales compared with 50,355 bales last week and 40,693 a year ago.  Total spot
transactions for the season were 316,840 bales compared to 241,653 bales the corresponding week a year
ago.  The New York December futures settlement price ended the week at 64.39 cents compared to 65.15
cents reported last week.

Prices are in effect from October 26-November 1, 2007

Adjusted World Price  (AWP)   54.96         Loan Deficiency Payment (LDP)   0.00
ELS Competitiveness Payment   6.69          Coarse Count Adjustment  (CCA)  0.00

Source:  Farm Service Agency, FSA, USDA

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STAT News Service