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USDA-MP: Daily Spot Quotations, Pg 1 (front page)

- Memphis, TN Cotton and Tobacco Progr 03-Jan-18

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 27.0 to 28.9 grams per tex and uniformity 81.0 to 81.9.
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 34Staple 35     Today        Season
              Points  Month   cents/lb.cents/lb.     bales         bales

Southeast      75     Mar-18      78.86    81.61      1,104        19,737
North Delta    -75    Mar-18      77.36    79.11          0        19,147
South Delta    -75    Mar-18      77.36    79.11          0        12,468
East TX-OK    -286    Mar-18      75.25    77.00      6,340       347,536
West Texas    -436    Mar-18      73.75    75.75      6,824       482,386
Desert SW     -500    Mar-18      73.11    77.11         89         3,173
SJ Valley     -400    Mar-18      74.11    83.01          0           760
                                                Upland total
Average       -242    Mar-18      75.69    78.96     14,357       885,207
Previous      -229    Mar-18      75.21    78.49


            AMERICAN PIMA SPOT PRICE QUOTATIONS

                      Grade 2  Grade 3  Grade 3    SPOT TRANSACTIONS
                     Staple 46Staple 44Staple 46
                                                       AP total
American Pima           147.25   124.75   132.50          0         2,627




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           12/27/2017         76.61
Mar-18          78.11    77.50     0.61                Season low
May-18          78.26    77.77     0.49          10/20/2017         65.24
Jul-18          78.68    78.14     0.54
Oct-18          75.09    74.77     0.32         EFFECTIVE  Dec 29 - Jan 04
Dec-18          74.39    74.13     0.26                AWP          70.62
Mar-19          74.53    74.22     0.31            CC ADJ.           0.00
May-19          74.33    74.03     0.30         FCA 2016 Cr          0.33
Jul-19          74.18    73.73     0.45         FCA 2017 Cr          0.48
Oct-19          72.62    72.36     0.26                LDP           0.00
Dec-19          71.08    70.93     0.15
                                                EFFECTIVE  Dec 29 - Jan 04
                                                       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       -45      -45      -85     -235       -430
     3            -60      -60      -95     -245       -435
     4           -165     -165     -215     -340       -465
     5           -280     -280     -310     -420       -625
 STAPLE 34
 LEAF 1 & 2       130      130       70       25       -220
     3            105      105       65       20       -240
     4             50       50       25        0       -295
     5           -100     -100     -140     -250       -440
 STAPLE 35
 LEAF 1 & 2       335      335      280      120       -130
     3            280      280      245       77       -145
     4            165      165      120       45       -215
     5             40       40      -20     -145       -355
 Staple 36
 Leaf 1 & 2       479      479      434      214        -81
     3            429      429      399      174        -91
     4            299      299      234      129       -153
     5            152      152       69      -51       -300

               COLOR    COLOR    COLOR
                   12       22       32
 STAPLE 33
 LEAF 1 & 2      -175     -175     -275
     3           -190     -190     -290
     4                       0
     5                       0
 STAPLE 34
 LEAF 1 & 2        60       60      -70
     3             55       55      -85
     4                       0
     5                       0
 STAPLE 35
 LEAF 1 & 2       180      180       60
     3            140      140       23
     4                       0
     5                       0
 Staple 36
 Leaf 1 & 2       309      309      139
     3            264      264      114
     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 Program, Market News Division
3275 Appling Rd
Memphis, TN  38133
(901) 384-3016
www.ams.usda.gov/mnreports/mp_cn002.txt

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