Spot Cotton Quotations are published daily by the Cotton Programs, Agricultural Marketing Service, U.S. Department of Agriculture (USDA) in Memphis, Tennessee on each trading day of the New York Cotton Exchange. USDA quotations are based on purchases or sales in the market, mixed lots, free of all charges F.O.B. car/truck which includes compression and any brokerage charges. Spot Quotations are established in seven upland markets. Five of these are used for settlement purposes on the New York futures contracts for tenderable qualities. These quotations represent commercial differences for settlement purposes for upland cotton on New York futures contracts.

Spot quotations include a price for the base quality and differences (premiums and discounts) for all other qualities. All qualities quoted are equal to the Official Standards. The AMS Cotton Program has four market reporters that interview buyers and sellers in the seven markets to receive price information. The Market News Branch in Memphis provides supervision, price analysis, administrative and clerical support.

Market reporters receive re-caps from cotton traders that describe quality price and terms of cotton that is bought and sold. Price information is received from cooperatives, merchants, ginners and manufacturers.

The quotations are of general interest to producers, ginners, merchants, textile manufacturers, news media, government officials, insurance companies and others. Spot quotations are of interest to foreign cotton merchandisers and manufacturers, also.