Cotton On-Call Report

|                                Weekly Report No. 11
|
|      "On call" positions in spot cotton based on New York Cotton futures
|      reported by merchants in special account status 1/ as of  3/14/03
|
|                                 (In Contracts)
|
|-------------------------------------------------------------------------------
|            |                                           |    Open Futures
|            |        Call Cotton Based New York         | Contracts - New York
|            |                                           |   Cotton Exchange
|Futures     |-------------------------------------------|----------------------
|            |  Unfixed |  Change  |  Unfixed |  Change  |  At      |  Change
|Based       |  Call    |  From    |  Call    |  From    |  Close   |  From
|            |  Sales   |  Prev.   |  Purchs. |  Prev.   |          |  Prev.
|On:         |          |  Week    |          |  Week    |  3/14/03 |  Week
|-------------------------------------------------------------------------------
|March    '03          0       -174          0         -2          0        -4
|May      '03     11,008        780      2,776        290     63,868    -1,388
|July     '03     15,873        346        508       -506     15,160       831
|October  '03      5,016        220        520          4        858        38
|December '03      5,253        410      3,253        212     11,103       712
|March    '04      1,670        210         81          0      1,657        44
|May      '04      1,502        228         15          0        362        11
|July     '04      1,967        399        133         19        490         2
|October  '04        319          0         14          0          1         0
|December '04        637         16         21          0         60         0
|March    '05        115         10          0          0          0         0
|             ------------------------------------------------------------------
|   Totals:       43,360      2,445      7,321         17     93,559       246
|-------------------------------------------------------------------------------
|
|1/ Merchants with futures positions of 50 or more contracts in one future.
|
|
|This report is published by the Commission's Division of Economic Analysis.
|If you have any questions concerning this report, call Vincent G. Varisano,
|Industry Economist, Eastern Region at (646) 746-9775.
|
|Released after 3:00 p.m. Eastern Time
|3/20/03
|
|