Weekly Cotton Market Review

MEMPHIS - Aug 1/08 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 7 1.

August 1, 2008

Spot cotton quotations averaged 139 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 64.25 cents per
pound for the week ended Thursday, July 31.  The weekly average was up from 62.86 cents reported last week
and 56.81 cents reported the corresponding period a year ago.  Daily average quotations ranged from a high of
64.38 cents on Friday, July 25 to a low of 63.95 cents on Monday, July 28.  Spot transactions reported in the
Daily Spot Cotton Quotations for the week ended July 31 totaled 9,286 bales compared with 16,605 last week
and 20,944 a year ago.  Total spot transactions for the season were 1,771,873 bales compared to 10,279 bales the
corresponding week a year ago.  The ICE October futures settlement prices ended the week at 71.65 cents
compared to 71.04 cents reported last week.

Prices are in effect from August 1-7, 2008

 Adjustment World Price (AWP)   65.33    Loan  Deficiency Payment (LDP)  0.00
 ELS Competitiveness Payment     0.00    Coarse Count Adjustment (CCA)   0.00

    Source:  Farm Service Agency, FSA, USDA

---

STAT News Service