Cotton On-Call Report

|                                Weekly Report No. 15
|
|      "On call" positions in spot cotton based on New York Cotton futures
|      reported by merchants in special account status 1/ as of  4/11/2003
|
|                                 (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    |  4/11/2003
                                                                    |  Week
|-------------------------------------------------------------------------------
|May      '03      5,376        -44      1,703       -357     24,525   -18,014
|July     '03     12,574       -167      1,363        417     35,166    11,941
|October  '03      4,964         12        495          0      1,004        18
|December '03      6,045        449      4,166        268     14,536       830
|March    '04      3,270        194         81          0      2,097        62
|May      '04      2,431        128         15          0        442         9
|July     '04      3,300        186        133          0        577        36
|October  '04        499         22         14          0          1         0
|December '04      1,117          0         21          0         60         0
|March    '05        115          9          0          0          0         0
|             ------------------------------------------------------------------
|   Totals:       39,691        789      7,991        328     78,408    -5,118
|-------------------------------------------------------------------------------
|
|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
|4/17/2003
|
|