U.S. cotton exports ranged from a high of 9.2 million bales to a low of 3.3 million bales during the 10-year period of 1973 through 1982. An ordinary least squares (OLS) regression procedure was used to analyze the demand for U.S. cotton in the world market. The results of the analysis indicated dot approximately 94 percent of the variation in U.S. raw cotton exports could be explained through the use of three variables. The regression analysis found that U.S. cotton exports were dependent on the price difference between U.S. cotton versus U.S.S.R. cotton, world excess supply of cotton, and the level of Japanese cotton imports.