Weekly Cotton Market Review

MEMPHIS - Nov 2/07 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 10 2.

November 2, 2007

Average spot cotton quotations were 13 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 59.78 cents per pound for the week ending Thursday, November 1.  The weekly average was
down from 59.91 cents reported last week but up from 45.70 cents reported the corresponding period a
year ago.   Daily average quotations ranged from a high of 60.16 cents on Monday, October 29 to a low of
59.44 cents on Tuesday, October 30.  Spot transactions reported in the Daily Spot Cotton Quotations for
the week ending November 1 totaled 34,911 bales compared with 27,369 bales last week and 27,774 a
year ago.  Total spot transactions for the season were 351,751 bales compared to 269,427 bales the
corresponding week a year ago.  The New York December futures settlement price ended the week at
63.74 cents compared to 64.39 cents reported last week.

Prices are in effect from November 2-8, 2007

Adjusted World Price  (AWP)   54.84        Loan Deficiency Payment (LDP)   0.00
ELS Competitiveness Payment   8.09         Coarse Count Adjustment  (CCA)  0.00

Source:  Farm Service Agency, FSA, USDA

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STAT News Service