The volume of the Texas-Oklahoma spot cotton market analyzed by the Daily Price Estimation System (DPES) for the 2001/02 marketing year increased from 222,283 bales the previous year to 364,267 bales this year. The average price received by producers during the 2001/02 marketing year was 26.8 cents/lb, which is considerably less than the previous year. The 2001 crop was generally of good quality. The average micronaire level was higher in 2001 at 4.41, and the average number of bales having level 1 bark was up in comparison to the 2000 crop. With the exception of strength, price discounts for the 2001 crop decreased for all quality attributes, coupled with a decrease in premiums. In regard to strength, producers did not appear to receive a premium for higher levels of strength while lower levels of strength were discounted more severely than the previous year.