Cotton On-Call Report

Cotton On Call Report No. 52, for the week ending December 27, will be published on Friday, January 3, 2003.

|                                Weekly Report No. 51
|
|      "On call" positions in spot cotton based on New York Cotton futures
|      reported by merchants in special account status 1/ as of  12/20/02
|
|                                 (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    |  12/20/02|  Week
|-------------------------------------------------------------------------------
|March    '03     11,311       -314      2,717       -156     45,411     1,055
|May      '03     10,666        226      2,551          0     16,563       230
|July     '03     16,187        183        611        -11      6,772       590
|October  '03      3,891         -2        297        -36        737        33
|December '03      3,834        -37      1,496      1,205      4,777       415
|March    '04        583         43         21          0        580        46
|May      '04        508        161         15          1        270         2
|July     '04        805        221         14          0        247         0
|October  '04         28          0         14          0          1         0
|December '04        186        144         21          0         10        10
|             ------------------------------------------------------------------
|   Totals:       47,999        625      7,757      1,003     75,368     2,381
|-------------------------------------------------------------------------------
|
|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
|12/27/02
|
|