Cotton On-Call Report

|                                Weekly Report No. 19
|
|      "On call" positions in spot cotton based on New York Cotton futures
|      reported by merchants in special account status 1/ as of  5/9/2003
|
|                                 (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    |  5/9/2003|  Week
|-------------------------------------------------------------------------------
|May      '03          0        -28          0       -113          0       -45
|July     '03      3,381     -3,597      1,066       -103     39,412    -5,583
|October  '03      2,896     -1,229        267        -16      2,193       717
|December '03      5,222       -776      4,768        140     24,279     5,137
|March    '04      4,916        754         94         13      4,350     1,463
|May      '04      3,440        434         24          9      1,572       691
|July     '04      4,778        764         23          9      1,428       348
|October  '04        956        235         14          0          1         0
|December '04      1,187        -42         21          0        131        50
|March    '05        115          0          0          0          0         0
|             ------------------------------------------------------------------
|   Totals:       26,891     -3,485      6,277        -61     73,366     2,778
|-------------------------------------------------------------------------------
|
|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
|5/15/2003
|
|