Cotton On-Call Report

|                                Weekly Report No. 27
|
|      "On call" positions in spot cotton based on New York Cotton futures
|      reported by merchants in special account status 1/ as of  7/5/02
|
|                                 (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 2/|  From
|            |  Sales   |  Prev.   |  Purchs. |  Prev.   |          |  Prev.
|On:         |          |  Week    |          |  Week    |  7/3/02  |  Week
|-------------------------------------------------------------------------------
|July     '02         10        -33        880       -119        242       -39
|October  '02      2,560        -78        424        174      3,768        32
|December '02      7,603        -77      7,656         22     57,302     1,671
|March    '03      9,282        125        741        149      7,437       829
|May      '03      7,113         39         99          0      4,009       388
|July     '03     11,170        -26        370          0      1,811       222
|October  '03      2,478        239         64          0        106         0
|December '03      2,623        -37         39          0        825       220
|March    '04         20          0          5          0         93         0
|May      '04          0          0          0          0         12         0
|             ------------------------------------------------------------------
|   Totals:       42,859        152     10,278        226     75,605     3,323
|-------------------------------------------------------------------------------
|
|1/ Merchants with futures positions of 50 or more contracts in one future.
|2/ Due to the July 4th holiday, Open Futures Contracts data is as of 7/3/02.
|
|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
|7/11/02
|
|