Cotton On-Call Report

|                                Weekly Report No. 48
|
|      "On call" positions in spot cotton based on New York Cotton futures
|      reported by merchants in special account status 1/ as of  11/29/02
|
|                                 (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    |  11/29/02|  Week
|-------------------------------------------------------------------------------
|December '02          8       -314*         0       -229        182      -308
|March    '03     11,266        -80      2,795        219     50,598      -668
|May      '03     10,145        163      2,555          0     16,523      -276
|July     '03     15,589        136        620          0      6,041       122
|October  '03      3,944        210         93         -6        319        40
|December '03      3,294        132        266         18      3,794        15
|March    '04        498        156          0          0        168         0
|May      '04        295        163          0          0        258         0
|July     '04        512        359          0          0        207         0
|October  '04          0          0          0          0          1         0
|             ------------------------------------------------------------------
|   Totals:       45,551        925*     6,329          2     78,091     -1075
|-------------------------------------------------------------------------------
|
|1/ Merchants with futures positions of 50 or more contracts in one future.
|* Changes from the previous week are based on revised data for last week.
|
|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
|12/5/02
|
|