Luxury Cotton for Fashion and Home Textiles

American Pima ELS Competitiveness Payment Program

Thursday, November 20, 2014

Date American Pima Giza 88 Giza 86 Israel
11/14/14 195 NQ 115 192
11/17/14 195 NQ 115 192
11/18/14 190 NQ 115 192
11/19/14 190 NQ 115 192
11/20/14 187 NQ 114 192
Weekly Average 191.40 [1] NQ [2] 114.80 [3] 192 [4]
USDA Quality Differential: 1.65 [5] 19.17 [6] 2.04 [7]
Adjusted Weekly Average Foreign Quote: NQ [2+5]=[i] 133.97 [3+6]=[ii] 194.04 [4+7]=[iii]
Far East Freight Differential: [8] 18.39
U.S. Pima Base Grade Loan Value: [9] 81.60
Adjusted Foreign Quote for Quality and Freight as a Percentage of The U.S. Base Grade Loan Value: NQ [(i-8)/9] 115.58 [(ii-8)/9] 175.65 [(iii-8)/9]
Theoretical ELS CPP: NQ [1-i] 57.43 [1-ii] -2.64 [1-iii]
    Lowest Foreign Quote is 133.97
    Theoretical ELS Competitiveness Payment 57.43

All base quotes as reported by Cotton Outlook on a CNF Far East Basis.

Future payments of the ELS competitiveness program remain in effect as long as the lowest Friday through Thursday average adjusted price quotation for the lowest far eastern foreign growth quote (LFQ) is less than the Friday through Thursday adjusted average far eastern price quotation for American Pima, and the LFQ is less than 134% of the current crop year base grade loan level.

E&EO This data is only representative of the actual trade data and is not to be considered accurate or to be used for making any business decisions. Supima bares no responsibility for the accuracy of the information contained herein.

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