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. Algorithms of this type are commonly tested on a readily available collection of images from the Airborne Visible/Infrared Imaging Spectrometer (AVIRIS) hyperspectral imager. On the standard calibrated AVIRIS hyperspectral images that are most widely used for compression benchmarking, the new compressor provides more than 0.5 bits/sample improvement over the previous best compression results. The algorithm has been implemented in Mathematica. The compression algorithm was demonstrated as beneficial on 12-bit calibrated AVIRIS images.