MP_CN208 3/21/2024 Memphis, TN USDA Cotton and Tobacco Program, MND World market prices for upland cotton, in cents per pound, in effect from 12:01 a.m., EDT, Frida 2023-2024 Feb Feb Mar Mar Mar Mar 16-22 23-29 1-7 8-14 15-21 22-28 Adjusted world price 1/ 73.44 75.12 77.47 76.88 76.10 72.50 Course count adjustment 0.00 0.00 0.00 0.00 0.00 0.00 Loan Deficiency Payment 0.00 0.00 0.00 0.00 0.00 0.00 Fine count adjustment 20 1.28 1.36 1.26 0.97 0.39 0.00 Fine count adjustment 20 1.53 1.61 1.51 1.22 0.64 0.20 1/ Color 41, leaf 4, staple 34, mike 35-36 & 43-49, strength readings of 26.0-28.9 grams per te Source: Farm Service Agency, USDA. 0 ICE futures contract settlement, designated spot market average for color 41, leaf 4, staple 34, Far Eastern 'A' Index Color 41, Leaf 4, Staple 34 Far Eastern Date Futures Settlement 7-MarketA Index 1/ May-24 Jul-24 Oct-24 Dec-24 Mar-25 May-25 Average Current Mar 15 93.94 93.59 86.80 83.68 84.59 84.91 88.33 98.45 0.00 Mar 18 94.57 94.26 86.81 83.81 84.60 84.90 88.89 98.40 0.00 Mar 19 93.34 93.12 86.46 84.00 84.75 85.11 87.02 98.90 0.00 Mar 20 92.18 92.12 85.99 83.80 84.58 84.83 85.86 97.85 0.00 Mar 21 92.21 92.26 85.97 83.92 84.93 85.39 85.60 97.00 0.00 1/ Far Eastern A Index furnished by Cotton Outlook of Liverpool. Color 41, Leaf 4, Staple 34 Cents per Pound 7-Market Date SoutheasNorth DeSouth DeETX/STX WTX/OK/KDesert SSJ ValleAverage Mar 15 91.94 91.19 91.19 85.94 85.94 85.94 86.19 88.33 Mar 18 92.57 91.57 91.57 86.57 86.57 86.57 86.82 88.89 Mar 19 91.34 90.34 90.34 84.34 84.34 84.09 84.34 87.02 Mar 20 90.18 89.18 89.18 83.18 83.18 82.93 83.18 85.86 Mar 21 90.21 89.21 89.21 82.21 82.21 82.96 83.21 85.60 Source: USDA, AMS, Cotton and Tobacco Program, Cotton Market News. 0 2022-2023 2023-2024 Description Through March 16Through March 14, 2024 Week Mkt. Yea Week Mkt. Year Outstanding sales - 4,958,30 - 4,343,100 Exports 272,500 6,220,80397,300 6,364,800 Total export commitments - 11,179,1 - 10,707,900 New sales 324,700 - 104,700 - Buy-backs and cancellations 14,400 - 12,100 - Net sales 310,200 - 92,600 - Sales next marketing year 21,300 1,360,00 40,500 990,500 Net sales of Upland totaling 92,600 RB for 2023/2024 were up 8 percent from the previous week and 20 percent from the prior 4-week average. Increases primarily for Turkey (23,800 RB), Peru (13,700 RB), Vietnam (11,700 RB, including 3,200 RB switched from China, 500 RB switched from South Korea, 300 RB switched from Japan, and decreases of 4,400 RB), Bangladesh (11,400 RB), and Pakistan (10,200 RB, including decreases of 2,200 RB), were offset by reductions for Singapore (2,200 RB), Guatemala (800 RB), and South Korea (100 RB). Net sales of 40,500 RB for 2024/2025 were reported for Bangladesh (26,400 RB), Turkey (8,800 RB), Pakistan (4,400 RB), and Peru (900 RB). Exports of 397,300 RB--a marketing-year high--were up 36 percent from the previous week and 39 percent from the prior 4-week average. The destinations were primarily to China (183,700 RB), Vietnam (61,300 RB), Pakistan (58,700 RB), Turkey (22,800 RB), and Mexico (15,000 RB). Net sales of Pima totaling 2,100 RB for 2023/2024 were down 69 percent from the previous week and 68 percent from the prior 4-week average. Increases were primarily for India (800 RB), Brazil (600 RB), and Indonesia (400 RB). Exports of 1,200 RB were down 82 percent from the previous week and 77 percent from the prior 4-week average. The destinations were to Thailand (500 RB), India (300 RB), Italy (200 RB), and Peru (200 RB). Optional Origin Sales: For 2023/2024, the current outstanding balance of 4,400 RB, all Bangladesh. For 2024/2025, the current outstanding balance of 8,800 RB, all Pakistan. Exports for Own Account: For 2023/2024, new exports for own account totaling 400 RB were to Vietnam. Exports for own account totaling 6,100 RB to China were applied to new or outstanding sales. The current exports for own account outstanding balance of 72,600 RB are for China (50,300 RB), Vietnam (13,700 RB), Pakistan (5,000 RB), South Korea (2,400 RB), and Turkey (1,200 RB).