Weekly Cotton Market Review

MEMPHIS - Nov 30/07 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 10 30.

November 30, 2007

Average spot cotton quotations were 46 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 58.92 cents per pound for the week ending Thursday, November 29.  The weekly average was
down from 59.38 cents reported last week but up from 47.69 cents reported the corresponding period a
year ago.   Daily average quotations ranged from a low of 58.18 cents on Tuesday, November 27 to a high
of 59.34 cents on Wednesday, November 28.  Spot transactions reported in the Daily Spot Cotton
Quotations for the week ending November 29 totaled 49,302 bales compared with 14,777 bales last week
and 51,528 a year ago.  Total spot transactions for the season were 487,248 bales compared to 370,629
bales the corresponding week a year ago.  The New York March futures settlement prices ended the week
at 65.04 cents compared to 65.54 cents reported last week.

Prices are in effect from November 30-December 6, 2007

Adjusted World Price  (AWP)    53.65        Loan Deficiency Payment (LDP)   0.00
ELS Competitiveness Payment   11.09         Coarse Count Adjustment  (CCA)  0.00

Source:  Farm Service Agency, FSA, USDA

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STAT News Service