Cotton On-Call Report

|                                Weekly Report No. 23
|
|      "On call" positions in spot cotton based on New York Cotton futures
|      reported by merchants in special account status 1/ as of  6/6/2003
|
|                                 (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    |  6/6/2003|  Week
|-------------------------------------------------------------------------------
|July     '03      1,479     -1,091        692       -389     32,847    -1,347
|October  '03      2,605         98        272          5      3,434       349
|December '03      6,137         56      6,243         18     36,768     7,420
|March    '04      6,795        103      1,096          0      5,645       629
|May      '04      3,914         57         23          0      2,084       182
|July     '04      5,150        -50         23          0      1,656       -30
|October  '04      1,453          8         14          0         96        95
|December '04      1,125        -30         21          0        487       285
|March    '05        115          0          0          0         10        10
|             ------------------------------------------------------------------
|   Totals:       28,773       -849      8,384       -366     83,027     7,593
|-------------------------------------------------------------------------------
|
|1/ Merchants with futures positions of 50 or more contracts in one future.
|
|
|This report is published by the Commission's Division of Market Oversight.
|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
|6/12/2003
|
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