A two-stage predictive method was developed for lossless compression of calibrated hyperspectral imagery. The first prediction stage uses a conventional linear predictor intended to exploit spatial and/or spectral dependencies in the data. The compressor tabulates counts of the past values of the difference between this initial prediction and the actual sample value. To form the ultimate predicted value, in the second stage, these counts are combined with an adaptively updated weight function intended to capture information about data regularities introduced by the calibration process. Finally, prediction residuals are losslessly encoded using adaptive arithmetic coding.