0 MP_CN002 Memphis, TN Cotton and Tobacco Programs, 21-May-13 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 Number of bales provided Growth Basis Leaf 4 Leaf 3 to Cotton Program Area N.Y. Futures Staple 34 Staple 35 Today Season Points Month cents/lb. cents/lb. bales bales Southeast -150 Jul-13 82.36 85.61 0 240,328 North Delta -250 Jul-13 81.36 83.86 0 48,316 South Delta -250 Jul-13 81.36 83.86 0 13,104 East TX-OK -686 Jul-13 77.00 79.75 66 292,902 West Texas -686 Jul-13 77.00 80.00 121 1,031,142 Desert SW -750 Jul-13 76.36 82.86 0 3,676 SJ Valley -625 Jul-13 77.61 88.26 0 2,082 Upland total Average -485 Jul-13 79.01 83.46 187 1,631,550 Previous -483 Jul-13 80.95 85.40 AMERICAN PIMA SPOT PRICE QUOTATIONS Grade 2 Grade 3 Grade 3 SPOT TRANSACTIONS Staple 46 Staple 44 Staple 46 AP total American Pima 145.00 128.00 133.00 0 10,688 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 3/15/2013 87.25 Jul-13 83.86 85.78 -1.92 Season low Oct-13 83.96 85.50 -1.54 11/8/2012 65.11 Dec-13 84.15 85.60 -1.45 Mar-14 83.98 85.30 -1.32 EFFECTIVE May 17 - May 23 May-14 84.08 85.17 -1.09 AWP 72.92 Jul-14 84.32 85.17 -0.85 CC ADJ. 0.00 Oct-14 82.78 83.86 -1.08 FCA 2009 Cr 0.00 Dec-14 81.58 82.76 -1.18 FCA 2010 Cr 0.00 Mar-15 81.79 82.97 -1.18 LDP 0.00 May-15 81.69 82.87 -1.18 EFFECTIVE May 17 - May 23 PCP 0.00 AVERAGE PREMIUMS AND DISCOUNTS - TENDERABLE QUALITIES 3/ COLOR COLOR COLOR COLOR COLOR 11 21 31 41 51 STAPLE 33 LEAF 1 & 2 -20 -20 -78 -235 -380 3 -45 -45 -88 -245 -393 4 -155 -155 -195 -320 -423 5 -278 -278 -295 -415 -588 STAPLE 34 LEAF 1 & 2 155 155 115 28 -185 3 130 130 100 20 -213 4 75 75 50 0 -268 5 -68 -68 -123 -240 -408 STAPLE 35 LEAF 1 & 2 465 465 400 175 -80 3 390 390 360 140 -105 4 245 245 220 90 -165 5 125 125 70 -125 -300 COLOR COLOR COLOR 12 22 32 STAPLE 33 LEAF 1 & 2 -175 -175 -270 3 -190 -190 -285 4 0 5 0 STAPLE 34 LEAF 1 & 2 70 70 -58 3 55 55 -73 4 0 5 0 STAPLE 35 LEAF 1 & 2 198 198 50 3 165 165 18 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 and Tobacco Programs, Market News Division 3275 Appling Rd Memphis, TN 38133 (901) 384-3016 www.ams.usda.gov/mnreports/mp_cn002.txt