Cotton On-Call Report

|                                Weekly Report No. 3
|
|      "On call" positions in spot cotton based on New York Cotton futures
|      reported by merchants in special account status 1/ as of  1/18/02
|
|                                 (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    |  1/18/02 |  Week
|-------------------------------------------------------------------------------
|March    '02      7,015     -2,154      7,232     -2,178     29,417       -35
|May      '02      6,968       -346      2,677         32     12,496       130
|July     '02     13,126       -248      2,452        127     11,351       384
|October  '02      2,005        -41        193        -10        449        25
|December '02      3,021        -37        331          3      8,147       673
|March    '03      1,229         12          0          0      1,067        30
|May      '03        836         -9         64         12      1,006         0
|July     '03      1,017          0        370          0        605        12
|October  '03        169          0          0          0         10         0
|December '03        209          0          0          0         65         5
|             ------------------------------------------------------------------
|   Totals:       35,595     -2,823     13,319     -2,014     64,613     1,224
|-------------------------------------------------------------------------------
|
|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 (201) 234-6922.
|
|Released after 3:00 p.m. Eastern Time
|1/24/02
|
|