MP_CN208 4-Sep-08 Memphis, TN USDA Cotton Program, MNB World market price for Upland cotton, in cents per pound, in effect from 12:01a.m., EST, Friday through midnight, EST, Thursday. 2008 Description Aug Aug Aug Aug 29-Aug Sep 1-7 8-14 15-21 22-28 4-Sep 5-11 Adj. World price 1/ 65.33 63.76 63.43 61.99 63.06 62.85 CC adjustment 0.00 0.00 0.00 0.00 0.00 0.00 Loan Defic.Payment (LDP) 0.00 0.00 0.00 0.00 0.00 0.00 1/ Color 41, leaf 4, staple 34, mike 35-36 & 43-49, strength readings of 24-25 grams per tex. Source: Farm Service Agency, USDA. USNE and NE price for Upland cotton, in cents per pound, in effect from 12:01 a.m. Friday through midnight Thursday. 2008 Description Aug Aug Aug Aug 39689 Sep 1-7 8 15 2204-Sep 25-11 2/ U.S. N. Europe price 78.90 - - - - - N. Europe price 79.33 - - - - - 1/ Grade 31, staple 35, mike 35-49. Source: Farm Service Agency, USDA. New York futures contract settlement, designated spot market average for color 41, leaf 4, staple 34, and 'A' and ' B' Index cotton prices, in cents per pound. Color 41, Leaf 4, Staple 34 Futures Settlement Date 7 Mkt. Avg. Oct-08 Dec-08 Mar-09 May-09 Jul-09 Average August 29 67.53 69.78 74.38 76.38 78.31 61.49 September 1 0.00 0.00 HOLIDAY 0.00 0.00 HOLIDAY September 2 67.91 70.18 74.76 76.78 78.85 61.76 September 3 67.19 69.69 74.13 76.28 78.46 61.24 September 4 65.98 68.46 72.99 75.21 77.57 60.52 Grade 31 Far Far Staple 35 Eastern Eastern 'A (NE)' Index 1/ "A" (FE) 1/ 'A' Index 1/ Current Forward Current August 29 - - 77.80 September 1 - - 77.90 September 2 - - 77.90 September 3 - - 78.10 September 4 - - 77.85 1/ C.I.F. Northern Europe and C.F. Far Eastern price furnished by Cotton Outlook of Liverpool. U.S. Upland cotton export sales and exports, in running bales, for week and year, marketing years 2006-2007 and 2007-2008 Marketing Years Week Mkt.Yr. Week Mkt.Yr. Description Through August 30, 2007 Through August 28, 2008 Outstanding sales - 3,063,900 - 3,493,900 Exports 325,400 1,398,600 226,300 986,800 Export commitments - 4,462,500 - 4,480,700 New sales 280,900 - 64,500 - Buy-backs & cancel. 4,100 - 40,100 - Net sales 276,900 - 24,400 - Sales next mkt.yr. 0 127,600 0 28,900 Net Upland sales of 24,400 running bales were down 91 percent from the previous week and 89 percent from the prior 4-wee NOTE: Data may not add due to rounding. Source: Export Sales Reporting Division, Foreign Agricultural Service, USDA. September 4, 2008 Cotton Program, Market News Branch 3275 Appling Rd Memphis, TN 38133 www.ams.usda.gov/cotton/mncs/index.htm