A FEW WORDS FROM TOM

       Hello to everyone! I hope you are enjoying good health and a bountiful harvest. It has been a couple of months since I have written a newsletter even though I have started one several times and cast it aside. I have found it very hard to find good news to share with the Funston Gin Family. After much searching I have come to realize there is still good news in every day. Friendly, loyal, courageous, brave, forgiving, tolerant, helpful, understanding, unselfish, positive, enthusiastic, honest, humble, responsible, loving, and kind. These qualities do still exist despite what we hear and read from the news media. I would like to thank each of you for your support in the past and for being appreciative of our good service and tolerant of our shortcomings.

       The year of 2008 will be a year remembered by each of us, our children, and our children's children. Regardless of what market we talk about; commodities, financials, or equities - it has been a disastrous roller coaster ride that has not ended. Let us hope and pray like all rides it comes back to where it started.

       Looking at cotton marketing, I have been wrong 15 out of 12 times. I really did not believe we would ever come under seventy cents but here we are at .3914 today. The projected pop payment for Friday is 14.91 cents or $74.55 per bale. What do we do with cotton we don't have contracted? We have 3 viable options.  1) Place the cotton in the USDA loan program and draw .5200 per pound. Watch the adjusted world price weekly and try to catch a 3 to 4 cent rally and redeem the cotton at the adjusted world price and sell on the cash market. 2) Pop cotton today for a 14.91 pop payment and sell on the cash market for .4000. 3) Speculative Option - Pop cotton when you think the pop payment has reached its maximum and hold the cotton until the market moves higher. When that might be, we would not know. This is strictly for speculators that have the cash to hold their cotton. In summary, there is not a good or profitable option. As the futures market goes down the pop payment gets larger and the cash selling price gets smaller. As you can see, it is like being on a see-saw until the futures market can move back above .6000. I know making a decision can be complicated. Please contact myself, Denna, or Jonathan and we will answer your questions.

     Have a Happy Thanksgiving and remember the important things in life; Good friends, good health, and peace with the Lord.

                                           Yours in Cotton, Tom

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