0 MP_CN002 Memphis, TN Cotton Program, MNB 09-Feb-10 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 -300 Mar-10 69.16 71.41 5,610 84,435 North Delta -400 Mar-10 68.16 69.91 0 6,383 South Delta -400 Mar-10 68.16 69.91 0 9,310 East TX-OK -616 Mar-10 66.00 70.00 5,044 126,534 West Texas -666 Mar-10 65.50 69.50 11,102 404,550 Desert SW -950 Mar-10 62.66 69.41 0 643 SJ Valley -775 Mar-10 64.41 75.16 0 709 Upland total Average -587 Mar-10 66.29 70.76 21,756 632,564 Previous -587 Mar-10 63.29 67.76 AMERICAN PIMA SPOT PRICE QUOTATIONS Grade 2 Grade 3 Grade 3 SPOT TRANSACTIONS Staple 46 Staple 44 Staple 46 AP total American Pima 125.00 107.00 112.00 0 15,746 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 1/4/2010 69.61 Mar-10 72.16 69.16 3.00 Season low May-10 72.98 70.76 2.22 8/26/2009 50.98 Jul-10 73.97 71.85 2.12 Oct-10 72.47 70.85 1.62 EFFECTIVE Feb 05 - Feb 11 Dec-10 72.26 71.19 1.07 AWP 58.69 Mar-11 74.48 73.96 0.52 CC ADJ. 0.00 May-11 75.38 74.56 0.82 LDP 0.00 Jul-11 76.00 75.16 0.84 EFFECTIVE Feb 05 - Feb 11 Oct-11 76.60 75.76 0.84 PCP 11.37 Dec-11 77.00 76.16 0.84 AVERAGE PREMIUMS AND DISCOUNTS - TENDERABLE QUALITIES 3/ COLOR COLOR COLOR COLOR COLOR 11 21 31 41 51 STAPLE 33 LEAF 1 & 2 18 18 -3 -135 -285 3 13 13 -13 -145 -298 4 -90 -90 -130 -215 -328 5 -213 -213 -230 -310 -493 STAPLE 34 LEAF 1 & 2 225 225 190 73 -165 3 205 205 175 60 -193 4 120 120 90 0 -248 5 -53 -53 -98 -188 -383 STAPLE 35 LEAF 1 & 2 480 480 400 180 -115 3 410 410 375 155 -138 4 255 255 222 88 -193 5 115 115 80 -135 -328 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 & 2 200 200 55 3 165 165 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