QUALITY OF COTTON CLASSED UNDER SMITH-DOXEY ACT BY STATE,
WEEK AND SEASON ENDED December 16, 2004

MP_CN109   AL        AR        AZ        CA         FL        GA
           WK   SN   WK   SN   WK   SN   WK    SN   WK   SN   WK   SN
          Pct. Pct. Pct. Pct. Pct. Pct. Pct.  Pct. Pct. Pct. Pct. Pct.
   MIKE
24&below    -    *    -    -    -    *    -    *     -    -    -    *
25-26      0.1   *    *    *   0.1  0.1   *    *     -    *    *    *
27-29      0.2  0.1   *    *   0.5  0.3  0.1   *    0.1   *    *    *
30-32      0.9  0.5  0.1  0.1  1.3  0.4  0.3  0.1   0.8  0.7  0.3  0.3
33-34      2.5  1.4  0.5  0.4  1.7  0.6  0.6  0.5   1.5  2.0  1.0  0.9
35-36      5.3  3.5  0.9  2.0  3.0  1.3  1.8  1.7   8.1  5.5  3.3  2.6
37-42     36.9 32.8 23.8 32.9 14.5 15.0 36.2  35.6 53.3 44.9 38.6 31.2
43-49     49.9 55.3 66.7 59.2 53.6 57.4 57.3  58.2 35.3 45.0 48.5 58.3
50-52      3.8  5.8  7.1  4.9 21.1 19.9  3.7  3.5   0.6  1.9  7.2  5.9
53&higher  0.5  0.5  0.8  0.5  4.3  5.0  0.1  0.3   0.3   *   1.1  0.8
Average    43   44   45   44   46   46   44    44   41   42   43   44
TRASH
00          -    -    -    *    *    *   0.1   *     -    -    -    *
01         0.1  0.2  0.4  1.3 15.6 39.6 30.8  31.4   *   0.3  0.1  0.2
02         3.8  4.5  4.8 10.6 38.7 38.5 33.7  38.3  2.5  4.3  3.5  4.3
03        17.1 17.2 16.0 20.9 27.6 14.3 20.2  18.1 10.3 17.0 15.2 17.1
04        20.8 21.8 22.7 21.0 10.8  4.4  8.8  6.9  15.0 24.4 25.6 27.0
05        20.8 21.5 20.2 16.5  3.8  1.5  3.6  2.8  20.0 24.0 22.2 21.7
06        14.6 15.2 15.7 13.3  1.7  0.8  1.7  1.4  20.9 15.9 15.6 14.7
07         8.8  9.1  9.7  7.7  0.6  0.3  0.7  0.5  14.0  8.0  8.7  7.9
08         5.1  4.9  5.5  4.5  0.4  0.2  0.3  0.2   8.7  3.5  4.6  3.8
09         3.7  2.9  3.2  2.6  0.3  0.1  0.1  0.1   4.7  1.7  2.3  1.9
10         1.8  1.1  0.8  0.8  0.2  0.1  0.1   *    2.3  0.5  0.8  0.6
11         1.0  0.6  0.5  0.5  0.1   *    *    *    0.8  0.2  0.5  0.3
12         0.8  0.4  0.2  0.2  0.1   *    *    *    0.4  0.1  0.3  0.2
13         0.6  0.2  0.1   *   0.1   *    *    *    0.2  0.1  0.2  0.1
14         0.4  0.1  0.1   *    *    *    *    *    0.1   *   0.1  0.1
15         0.2  0.1   *    *    *    *    *    *     *    *   0.1   *
16         0.1   *    *    *    *    *    *    *     -    *    *    *
17         0.1   *    *    *    -    *    -    *     -    *    *    *
18&above   0.2  0.1   *    *    *    *    -    *     -    *    *    *
Average   0.53 0.51 0.51 0.46 0.26 0.20 0.23  0.22 0.57 0.48 0.50 0.48
UNIFORMITY
72&below    -    -    -    -    -    -    -    -     -    -    -    -
73          -    -    -    -    -    -    -    -     -    -    -    -
74          -    -    -    -    -    -    -    -     -    -    -    -
75          -    -    -    -    -    -    -    -     -    -    -    *
76          -    -    -    -    *    *    *    *     -    -    *    *
77         0.1  0.1   *    *   0.1  0.3  0.2  0.1   0.3  0.2  0.1   *
78         1.3  0.9  0.1   *   1.1  2.0  0.7  0.5   2.8  1.8  2.7  2.0
79         7.2  4.5  1.5  0.8  5.4  8.2  3.3  2.2  14.1  9.4 12.5 12.1
80        20.2 15.4 11.6  6.6 21.3 24.8 11.0  8.2  32.1 31.3 28.0 33.0
81        38.9 33.6 35.2 23.7 40.1 37.0 35.6  30.9 30.7 37.0 33.3 32.9
82        26.4 33.3 41.2 44.4 25.8 21.9 37.9  43.1 16.2 16.8 18.5 15.9
83         5.5 11.1  9.5 21.8  5.7  5.2  9.0  12.7  3.4  3.2  4.5  3.7
84         0.3  1.1  0.9  2.6  0.5  0.5  1.1  1.7   0.5  0.3  0.4  0.4
85          *    *    *   0.1   *    *   0.7  0.5    -    *    *    *
86          -    *    -    *    -    -   0.4  0.2    -    -    -    *
87          -    -    -    -    -    -   0.2   *     -    -    -    -
88          -    -    -    -    -    -    *    *     -    -    -    -
89          -    -    -    -    -    -    -    -     -    -    -    -
90&above    -    -    -    -    -    -    -    -     -    -    -    -
Average   81.0 81.3 81.5 81.9 81.0 80.9 81.5  81.6 80.5 80.7 80.7 80.6
Tenderable58.5 77.7 63.8 80.4 66.7 70.6 85.5  92.0 65.0 83.8 79.9 84.1
CLASSED
WEEK               0         0         0          0         0         0
SEASON        771010  1,818840    441343   1,131249     86348  1,51595331


QUALITY OF COTTON CLASSED UNDER SMITH-DOXEY ACT BY STATE,
WEEK AND SEASON ENDED December 16, 2004

           KS        LA        MO        MS         NC        NM
           WK   SN   WK   SN   WK   SN   WK    SN   WK   SN   WK   SN
          Pct. Pct. Pct. Pct. Pct. Pct. Pct.  Pct. Pct. Pct. Pct. Pct.
   MIKE
24&below    -    -    -    -    -    *    -    *     *    *   0.6  0.1
25-26       -   0.5   -    *    *    *    -    *     *    *   0.8  0.4
27-29       -   1.9   -    *    *    *    *    *     -    *   1.5  2.2
30-32      2.2  3.1   *    *   0.3  0.1  0.3  0.1   0.1   *   8.7 10.1
33-34     10.4  4.1   *   0.1  0.5  0.4  0.3  0.2   0.2  0.1 10.9 13.0
35-36     13.4  5.0  0.1  0.2  2.5  2.4  1.3  0.7   0.5  0.3 17.6 14.9
37-42     38.7 36.1 11.7  5.8 33.5 34.1 16.2  13.8 19.2 15.4 41.6 39.2
43-49     34.8 42.5 63.2 70.7 57.1 55.5 68.7  70.6 70.8 72.2 18.3 19.3
50-52       -   6.7 21.6 21.4  5.8  6.8 11.8  13.3  8.3 10.6   -   0.5
53&higher  0.5  0.1  3.4  1.7  0.3  0.6  1.2  1.3   0.9  1.4   -   0.1
Average    40   42   47   47   44   44   46    46   45   46   38   38
TRASH
00          -    -    -    *    -    *    -    *     -    *    -    *
01          -    -    -   1.7  0.9  2.7  0.5  2.2    *   0.1 26.2 23.2
02          -    *   0.9 12.0 10.0 15.0  5.4  13.7  2.2  2.5 39.1 32.9
03         0.1  0.4  6.0 21.7 23.1 24.4 13.3  21.8 13.2 14.0 15.0 21.7
04         0.3  1.3 15.1 20.9 26.5 22.1 17.4  19.0 21.9 22.8  8.9  9.9
05         3.1  3.6 20.2 17.0 19.8 16.0 17.0  14.1 22.7 23.3  5.6  4.7
06         7.6  6.6 18.9 11.0 11.1 10.5 16.4  12.1 17.2 17.0  3.3  3.4
07        10.9  9.1 17.0  7.6  5.4  5.3 11.3  6.7  10.6 10.2  1.2  1.9
08        10.1  9.0 11.2  4.0  1.9  2.3  8.1  4.6   5.5  4.9  0.3  1.0
09        10.4  9.9  6.3  2.3  0.9  1.2  5.6  3.1   3.2  2.7  0.2  0.7
10         9.4  9.6  1.9  0.7  0.2  0.3  1.9  1.2   1.6  1.1  0.1  0.4
11         9.1  9.4  1.2  0.5  0.2  0.1  1.2  0.8   0.9  0.6   -   0.1
12         7.3  8.2  0.6  0.3   *    *   0.7  0.4   0.5  0.3   -   0.1
13         6.0  6.4  0.1  0.1   *    *   0.3  0.1   0.2  0.2  0.1   *
14         5.6  6.6  0.1  0.1   *    *   0.2  0.1   0.1  0.1   -    *
15         3.7  5.1   *    *    *    *   0.2  0.1   0.1   *    -    *
16         3.6  3.2   *    *    *    *   0.2   *    0.1   *    -    -
17         2.3  2.6   *    *    *    *   0.1   *     *    *    -    -
18&above  10.6  8.9  0.3   *    *    *   0.1  0.1   0.1   *    -    -
Average   1.09 1.09 0.61 0.45 0.43 0.41 0.56  0.46 0.53 0.52 0.25 0.27
UNIFORMITY
72&below    -    -    -    -    -    -    -    -     -    -    -    -
73          -    -    -    -    -    -    -    -     -    -    -    -
74          -    -    -    -    -    -    -    -     -    -    -    -
75          -    -    -    -    -    -    -    -     -    -    -    -
76         0.1   *    -    -    -    -    -    -     -    -   0.1   *
77         0.1   *    -    *    *    *    *    *     *    *   0.2  0.1
78         1.3  0.4  0.6  0.5  0.1   *   0.2  0.1   0.2  0.2  2.7  1.4
79         5.4  2.0  6.5  4.6  1.1  0.3  2.2  1.9   1.9  1.7 13.1 10.1
80        15.3 11.0 24.9 20.4  7.2  2.8 12.0  12.1 10.0  8.7 31.8 29.4
81        52.1 56.9 39.9 34.5 29.6 18.9 30.6  31.3 29.7 26.3 32.6 32.5
82        23.3 24.9 22.3 26.6 46.2 49.5 36.1  33.8 38.7 38.9 16.6 19.8
83         2.5  4.6  5.4 11.6 14.7 25.6 16.3  17.5 17.4 20.4  2.8  6.0
84         0.1  0.1  0.5  1.7  1.1  2.8  2.5  3.1   2.1  3.7  0.2  0.8
85          -    -    -    *    *   0.1  0.1  0.1   0.1  0.1   -    *
86          -    -    -    *    -    *    -    *     -    -    -    -
87          -    -    -    -    -    -    -    -     -    -    -    -
88          -    -    -    -    -    -    -    -     -    -    -    -
89          -    -    -    -    -    -    -    -     -    -    -    -
90&above    -    -    -    -    -    -    -    -     -    -    -    -
Average   81.0 81.2 81.0 81.2 81.7 82.1 81.6  81.6 81.7 81.8 80.6 80.8
Tenderable11.2 18.2 43.0 66.5 69.0 82.9 60.9  76.6 76.1 78.3 76.3 72.0
CLASSED
WEEK      1,950     9,809     44,534    42,732     63,667    1,727
SEASON    8,780     881,048   743,409   2,214,913  1,261,835 26,516


QUALITY OF COTTON CLASSED UNDER SMITH-DOXEY ACT BY STATE,
WEEK AND SEASON ENDED December 16, 2004

           OK        SC        TN        TX         VA
           WK   SN   WK   SN   WK   SN   WK    SN   WK   SN
          Pct. Pct. Pct. Pct. Pct. Pct. Pct.  Pct. Pct. Pct.
   MIKE
24&below    -    *    -    *    -    -   0.1   *     -    -
25-26       *    *    -    *    *    *   1.0  0.4    -    -
27-29      0.3  0.3   *    *   0.1   *   6.3  3.0    -    *
30-32      1.8  1.5  0.2  0.1  0.4  0.1 13.6  7.0    *    *
33-34      3.0  2.3  0.5  0.3  0.8  0.4 12.6  7.0    *    *
35-36      5.3  5.0  1.4  0.7  1.6  1.3 15.1  8.6   0.6  0.2
37-42     52.3 38.9 24.7 15.2 27.9 26.3 39.9  31.9 35.4 22.7
43-49     34.9 48.4 65.5 72.0 60.1 63.6 11.0  37.7 59.8 71.6
50-52      2.1  3.1  6.6 10.7  7.8  7.3  0.2  4.1   4.1  5.2
53&higher  0.3  0.4  1.1  1.0  1.4  1.0   *   0.4    *   0.2
Average    41   42   45   46   44   45   37    41   44   45
TRASH
00          -    *    -    -    -    *    *    *     -    -
01         0.9  4.0   *   0.1  0.9  1.0  0.5  1.2    -    *
02        13.5 22.6  2.4  4.1 10.1 10.3  5.1  9.5   0.3  0.6
03        22.7 26.3 17.1 18.8 23.7 22.6 13.8  20.8  4.9  7.0
04        18.0 15.8 27.7 25.7 25.6 22.8 16.7  19.7 15.5 17.7
05        15.2 11.4 25.4 22.5 18.7 17.2 17.3  15.7 24.7 25.4
06        10.4  7.1 14.9 14.2 10.6 12.4 14.9  12.1 22.9 22.1
07         7.7  4.8  6.7  7.7  5.6  6.7 10.6  7.5  15.5 14.3
08         4.1  2.7  3.0  3.4  2.5  3.5  7.3  4.9   8.4  6.9
09         2.7  1.9  1.4  1.8  1.3  2.0  5.2  3.3   4.5  3.6
10         1.5  1.1  0.6  0.7  0.5  0.7  3.0  1.9   1.7  1.3
11         1.1  0.7  0.3  0.4  0.3  0.4  1.9  1.2   0.8  0.6
12         0.6  0.5  0.2  0.2  0.1  0.1  1.2  0.8   0.5  0.3
13         0.4  0.3  0.1  0.1   *   0.1  0.8  0.5   0.2  0.1
14         0.4  0.2  0.1  0.1   *    *   0.5  0.3    *   0.1
15         0.2  0.2   *    *    *    *   0.4  0.2    *    *
16         0.1  0.1   *    *    *    *   0.2  0.1    *    *
17         0.1  0.1   -    *    *    *   0.1  0.1    *    *
18&above   0.3  0.3   *    *    *    *   0.3  0.2    -    *
Average   0.48 0.40 0.48 0.48 0.43 0.45 0.57  0.50 0.59 0.57
UNIFORMITY
72&below    -    -    -    -    -    -    -    -     -    -
73          -    -    -    -    -    -    -    -     -    -
74          -    -    -    -    -    -    *    *     -    -
75          *    *    -    -    -    -    *    *     -    -
76         0.2  0.1   -    -    -    -   0.2  0.1    -    -
77         1.6  0.5   *    *    *    *   1.4  0.5    -    *
78         5.9  3.0  0.4  0.5  0.3  0.1  7.0  3.1    *    *
79        16.2 11.0  4.6  4.2  3.0  0.9 21.2  10.5  0.5  0.7
80        28.6 25.2 19.6 16.8 15.2  7.2 35.6  21.1  3.3  4.6
81        30.1 31.5 38.1 32.9 41.4 30.0 25.7  25.7 19.6 19.5
82        14.0 20.5 28.3 30.1 32.6 43.5  7.8  22.8 48.4 44.4
83         3.3  7.0  8.2 13.3  7.0 16.5  0.9  13.4 24.3 26.3
84         0.2  1.1  0.7  2.1  0.4  1.9  0.1  2.7   3.8  4.4
85          *   0.1   -    *    *    *    *   0.2    *   0.1
86          -    -    -    -    -    *    -    *     -    -
87          -    -    -    -    -    -    -    -     -    -
88          -    -    -    -    -    -    -    -     -    -
89          -    -    -    -    -    -    -    -     -    -
90&above    -    -    -    -    -    -    -    -     -    -
Average   80.4 80.8 81.2 81.4 81.3 81.7 80.0  81.0 82.0 82.0
Tenderable44.9 73.6 84.6 81.8 60.5 77.4 34.5  53.0 83.3 82.6
CLASSED
WEEK         15,890    14,642    54,247    407,934     9,963
SEASON      164,907   336,462   873,622  3,567,226   137,639

1/ Measure of the percent of the sample covered by trash particles as determined
by a video scanner; 12 indicates that trash particles cover 1.2 percent of the
sample surface.  Trash particles include extraneous matter such as grass, bark,
etc.  2/ Measure of the relative uniformity of the length of fibers, if all
fibers were the same length, uniformity index would equal 100.
3/ Tenderable for delivery on New York No. 2 futures contracts.
* Less than 0.05 percent.