Data on grade, staple and micronaire readings are analyzed for the period 1978-87. Economic value is estimated for these changes in quality using information from the daily spot quotations for cotton price and applying the appropriate premiums and discounts. Results of the study indicate that fiber length has improved while grade has deteriorated. In real terms this has caused a decline in the value of a pound of lint produced. If yield is also considered, the real value has increased over time.