0 MP_CN002 Memphis, TN Cotton Program, MNB 02-Jul-09 Spot quotations and differences are for cotton equal to the official standards, net weight, in mixed lots. Upland quotations are FOB car/truck, which includes compression and any brokerage charges. The upland base quality is color 41, leaf grade 4, staple 34 (1.05 to 1.07), mike 3.5, 3.6 and 4.3 to 4.9, strength 26.5 to 28.4 grams per tex and uniformity 80.5 to 81.4. American Pima quotations are UD free, FOB warehouse, and brokerage fees included. UPLAND SPOT PRICE QUOTATIONS SPOT TRANSACTIONS Color 41 Color 31 Usuable sales provided Growth Basis Leaf 4 Leaf 3 to Cotton Programs Area N.Y. Futures Staple 34 Staple 35 Today Season Points Month cents/lb. cents/lb. bales bales Southeast -425 Oct-09 54.75 56.25 1,157 140,891 North Delta -525 Oct-09 53.75 55.00 0 102,974 South Delta -525 Oct-09 53.75 55.00 0 39,556 East TX-OK -850 Oct-09 50.50 52.50 0 174,832 West Texas -850 Oct-09 50.50 53.50 2,798 841,231 Desert SW -575 Oct-09 53.25 60.75 0 451 SJ Valley -350 Oct-09 55.50 66.25 0 6,806 Upland total Average -586 Oct-09 53.14 57.04 3,955 1,306,741 Previous -575 Oct-09 52.88 56.77 AMERICAN PIMA SPOT PRICE QUOTATIONS Grade 2 Grade 3 Grade 3 SPOT TRANSACTIONS Staple 46 Staple 44 Staple 46 AP total American Pima 105.50 87.50 92.50 0 8,533 NEW YORK FUTURES - CONTRACT NO. 2 2/ 7-MARKET AVERAGE COLOR 41 LEAF 4, STAPLE 34, MIKE 35-49, BASE QUOTATIONS STRENGTH 25 OR GREATER. FOR UPLAND COTTON Month Cents per pound Season high Today Previous Change 8/1/2008 62.69 Jul-09 56.80 56.73 0.07 Season low Oct-09 59.00 58.63 0.37 11/11/2008 36.28 Dec-09 60.92 60.48 0.44 Mar-10 63.19 62.72 0.47 EFFECTIVE Jun 26 - Jul 02 May-10 64.39 63.92 0.47 AWP 43.04 Jul-10 65.42 65.03 0.39 CC ADJ. 0.00 Oct-10 67.12 66.73 0.39 LDP 8.96 Dec-10 68.39 68.00 0.39 EFFECTIVE Jun 26 - Jul 02 Mar-11 71.08 70.69 0.39 PCP 6.23 May-11 72.08 71.69 0.39 AVERAGE PREMIUMS AND DISCOUNTS - TENDERABLE QUALITIES 3/ COLOR COLOR COLOR COLOR COLOR 11 21 31 41 51 STAPLE 33 LEAF 1 & 2 13 13 -8 -135 -280 3 8 8 -18 -145 -293 4 -95 -95 -135 -215 -323 5 -213 -213 -230 -310 -443 STAPLE 34 LEAF 1 & 2 210 210 160 63 -160 3 175 175 140 50 -188 4 115 115 85 0 -243 5 -53 -53 -98 -188 -343 STAPLE 35 LEAF 1 & 2 405 405 335 160 -110 3 335 335 305 135 -133 4 228 228 195 93 -188 5 125 125 90 -120 -298 COLOR COLOR COLOR 12 22 32 STAPLE 33 LEAF 1 & 2 -70 -70 -165 3 -85 -85 -180 4 0 5 0 STAPLE 34 LEAF 1 & 2 85 85 -13 3 70 70 -38 4 0 5 0 STAPLE 35 LEAF 1 & 2 193 193 55 3 160 160 23 4 0 5 0 1/ Settlement prices provided by New York Cotton Exchange. 2/ The average of the differences from the Southeast, North and South Delta average, East Texas-Oklahoma, West Texas, and Desert Southwest markets. Cotton Program, Market News Branch 3275 Appling Rd Memphis, TN 38133 (901) 384-3016 www.ams.usda.gov/mnreports/mp_cn002.txt