MP_CN208 2-Feb-12 Memphis, TN USDA Cotton Program, MND World market price for Upland cotton, in cents per pound, in effect from 12:01a.m., EST, Friday through midnight, EST, Thursday. 2011-2012 Description 30-Dec Jan Jan Jan 27-Jan Feb Jan 5 6-12 13-19 20-26 Feb 2 3-9 Adj. World price 1/ 73.34 77.98 80.12 80.44 82.29 80.57 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 25.5-29.4 grams per tex, length uniformity of 79.5-82.4 percent. 0 Source: Farm Service Agency, USDA. ICE futures contract settlement, designated spot market average for color 41, leaf 4, staple 34, and Far Easter a" Index Color 41, Leaf 4, Staple 34 Far Eastern A Index Date Futures Settlement 7-Market Mar-12 May-12 Jul-12 Oct-12 Dec-12 Mar-13 Average Jan 27 95.61 96.09 96.56 96.56 94.59 95.09 88.26 100.95 Jan 30 94.15 94.87 95.61 95.28 93.44 93.83 86.79 100.95 Jan 31 93.25 94.51 95.61 95.16 93.53 94.33 85.86 101.35 Feb 1 93.39 94.79 95.98 95.81 94.47 95.32 85.81 101.25 Feb 2 94.21 95.49 96.56 96.39 95.06 96.17 86.72 101.45 0 0 Date SoutheasNorth DeSouth DeEast TX/West TexDesert SSJ ValleAverage Jan 27 89.61 89.11 89.11 85.00 85.25 89.11 90.61 88.26 Jan 30 88.15 87.65 87.65 83.50 83.75 87.65 89.15 86.79 Jan 31 87.25 86.75 86.75 82.50 82.75 86.75 88.25 85.86 Feb 1 87.39 86.89 86.89 82.25 82.50 86.89 87.89 85.81 Feb 2 88.46 87.71 87.71 83.25 83.50 87.71 88.71 86.72 Marketing Years Description 2010-2011 2011-2012 Through January 27, 2011Through January 26, 2012 Week Mkt. Year Week Mkt. Year Outstanding sales - 8,615,700 - 6,369,200 Exports 426,800 5,456,300 366,000 3,629,100 Total export commitments - 14,072,000 - 9,998,300 New sales 69,200 - 125,900 - Buy-backs and cancellations 23,900 - 290,000 - Net sales 45,300 - (164,000 - Sales next marketing year 196,300 2,644,800 17,800 465,700 Net Upland sales reductions of 164,000 running bales resulted as increases for Bangladesh (33,200 RB), Turkey (23,400 RB), India (5,700 RB), Mexico (4,900 RB), and Taiwan (3,200 RB), were more than offset by decreases for China (182,600 RB), Vietnam (16,300 RB), South Korea (12,900 RB), and Thailand (12,800 RB). Decreases were reported for Vietnam (1,300 RB). Options exercised to export the commodity from the United States only were for Bangladesh (33,100 RB). Optional origin sales for the 2011/2012 marketing year were reported for China (52,900 RB), Vietnam (16,800 RB), South Korea (13,300 RB), and Thailand (11,000 RB). Net sales of 17,800 RB for delivery in 2012/2013 marketing year were reported for China (12,800 RB) and Mexico (5,000 RB). Exports of 366,000 RB--a marketing-year high--were up 83 percent from the previous week and 97 percent from the prior 4-week average. The primary destinations were China (256,700 RB), Turkey (28,000 RB), Mexico (15,500 RB), and Bangladesh (9,800 RB). Net American Pima sales of 11,600 RB were down 77 percent from the previous week and 27 percent from the prior 4-week average. Increases were primarily for China (7,600 RB) and Pakistan (3,800 RB, including 300 RB switched from Bangladesh). Decreases were reported for Bangladesh (300 RB). Net sales reductions of 8,800 RB for delivery in 2012/2013 marketing year were reported for China. Exports of 20,700 RB were reported mainly to China (7,600 RB), Pakistan (4,100 RB), and Turkey (3,300 RB). Source: Export Sales Reporting Division, Foreign Agricultural Service, USDA. USDA, AMS Cotton and Tobacco Programs, Cotton Market News Division 3275 Appling Rd Memphis, TN 38133 www.ams.usda.gov/cnmnreports