0 MP_CN002 Memphis, TN Cotton Program, MNB 24-Nov-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 -375 Mar-10 71.77 74.02 1,543 24,322 North Delta -525 Mar-10 70.27 71.52 0 5,136 South Delta -525 Mar-10 70.27 71.52 0 4,358 East TX-OK -952 Mar-10 66.00 69.75 1,961 54,479 West Texas -1027 Mar-10 65.25 69.50 16,958 203,979 Desert SW -950 Mar-10 66.02 72.77 500 500 SJ Valley -775 Mar-10 67.77 78.52 0 0 Upland total Average -733 Mar-10 68.19 72.51 20,962 292,774 Previous -728 Mar-10 67.20 71.56 AMERICAN PIMA SPOT PRICE QUOTATIONS Grade 2 Grade 3 Grade 3 SPOT TRANSACTIONS Staple 46 Staple 44 Staple 46 AP total American Pima 117.00 99.00 104.00 400 13,564 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 11/24/2009 68.19 Dec-09 71.52 70.38 1.14 Season low Mar-10 75.52 74.48 1.04 8/26/2009 50.98 May-10 76.47 75.40 1.07 Jul-10 77.04 75.96 1.08 EFFECTIVE Nov 20 - Nov 26 Oct-10 77.49 76.56 0.93 AWP 54.80 Dec-10 77.95 77.05 0.90 CC ADJ. 0.00 Mar-11 78.95 78.05 0.90 LDP 0.00 May-11 79.55 78.65 0.90 EFFECTIVE Nov 20 - Nov 26 Jul-11 79.95 79.05 0.90 PCP 10.37 Oct-11 80.95 80.15 0.80 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 & 2 215 215 180 68 -160 3 195 195 165 55 -188 4 115 115 85 0 -243 5 -53 -53 -98 -188 -343 STAPLE 35 LEAF 1 & 2 470 470 390 180 -110 3 400 400 365 155 -133 4 253 253 220 98 -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 & 2 198 198 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