Fresno Cotton Exchange
P.O. Box 11486
Fresno, Ca. 93773-1486 (559) 226-6181

San Joaquin Valley Spot Quotes
SJV Sheet #: 411 effective: 03/31/04
USDA Published: 31-Mar-2004

SLM 1-16, #4 leaf base, -450 May-2004 New York Cotton Exchange #2 CONTRACT
All quotations are for mixed lots equal to official standards, compressed FOB cars/trucks, charges paid, net weights. Quotations for grades are based on cotton with mike readings of 3.5-3.6 and 4.3-4.9. Strength Readings are 26.5-28.4 Grams per tex and uniformity 81.

 Color  |Leaf|------- STAPLE ---------| |Color  |Leaf|-------- STAPLE --------
        |    |   34    35    36    37 | |       |    |   34    35    36    37 
--------|----|------------------------| |-------|----|------------------------
  11&21 |1&2 |    25   675   865   915| | 32    |1&2 |  -350   -50   -25   -25
        |  3 |   -40   610   690   775| |       |  3 |  -400  -100   -75   -75
        |  4 |  -350    25   105   225| |       |  4 |  -550  -250  -250  -250
        |  5 |  -575  -375  -320  -260| |       |  5 |  -975  -725  -725  -725
        |  6 |  -850  -650  -600  -550| |       |  6 | -1125  -925  -925  -925
        |  7 | -1075  -975  -925  -875| |       |  7 | -1300 -1200 -1200 -1200
        |    |                        | |       |    |                        
     31 |1&2 |   -25   575   655   740| | 42    |1&2 |  -850  -550  -550  -550
        |  3 |   -25   575   605   690| |       |  3 |  -900  -600  -600  -600
        |  4 |  -350  -200  -150   -65| |       |  4 |  -950  -700  -700  -700
        |  5 |  -650  -450  -395  -335| |       |  5 | -1125  -950  -950  -950
        |  6 |  -975  -775  -725  -675| |       |  6 | -1350 -1325 -1325 -1325
        |  7 | -1125 -1025  -975  -925| |       |  7 | -1450 -1450 -1450 -1450
        |    |                        | |       |    |                        
     41 |1&2 |  -250     0    30    40| | 52    |1&2 | -1175 -1125 -1125 -1125
        |  3 |  -300   -50   -20   -10| |       |  3 | -1175 -1125 -1125 -1125
        |  4 |  -450  -200  -170  -160| |       |  4 | -1275 -1225 -1225 -1225
        |  5 |  -875  -650  -645  -635| |       |  5 | -1325 -1275 -1275 -1275
        |  6 | -1125  -900  -900  -900| |       |  6 | -1475 -1475 -1475 -1475
        |  7 | -1275 -1175 -1175 -1175| |       |  7 | -1675 -1675 -1675 -1675
        |    |                        | |       |    |                        
     51 |1&2 | -1025  -675  -675  -675| | 33    |1&2 |  -950  -950  -950  -950
        |  3 | -1050  -700  -700  -700| |       |  3 |  -950  -950  -950  -950
        |  4 | -1100  -750  -750  -750| |       |  4 | -1050 -1050 -1050 -1050
        |  5 | -1200  -900  -900  -900| |       |  5 | -1250 -1250 -1250 -1250
        |  6 | -1350 -1250 -1250 -1250| |       |  6 | -1525 -1525 -1525 -1525
        |  7 | -1500 -1400 -1400 -1400| |       |  7 | -1675 -1675 -1675 -1675
        |    |                        | |       |    |                        
  12&22 |1&2 |  -225   175   255   315| | 43    |1&2 | -1325 -1325 -1325 -1325
        |  3 |  -300   100   180   240| |       |  3 | -1325 -1325 -1325 -1325
        |  4 |  -425  -125   -70   -10| |       |  4 | -1375 -1375 -1375 -1375
        |  5 |  -700  -500  -450  -400| |       |  5 | -1525 -1525 -1525 -1525
        |  6 |  -950  -850  -800  -750| |       |  6 | -1675 -1675 -1675 -1675
        |  7 | -1225 -1150 -1100 -1050| |       |  7 | -1875 -1875 -1875 -1875

---- Mike ----
Range	Diff.
27-29	-1250
30-32	-550
33-34	-350
35-36	0
37-42	25
43-49	0
50-52	-450

-Strength (grams per tex)-
Range	Diff.
23.5-24.4	-100
24.5-25.4	-100
25.5-26.4	-50
26.5-28.4	0
28.5-29.4	0
29.5-30.4	25
30.5-32.4	50
32.5 & Above	75

- Extraneous Matter -
Other Level	Diff.
1	-400
2	-925
Prep Level
1	-50
2	-800

- Uniformity -
Level	Diff.
77 & below	-60
78	-50
79	-40
80	0
81	0
82	0
83	30
84	40
85	50
86 & above	60

* Quotations are established by USDA, Agricultural Marketing Service.
* [-] sign means points off NYCE futures market.