Lubbock To Host U.S. House Agriculture
Committee Farm Bill Hearing on May 17

Friday, April 30, 2010                                By Shawn Wade

      Lubbock, Texas and the 19th Congressional District have been selected as a host location for one of eight regional field hearings scheduled to be conducted by the U.S. House of Representatives Committee on Agriculture.

      According to Congressman Randy Neugebauer of Lubbock, a member of the House Agriculture Committee, the Lubbock hearing will be conducted Monday, May 17 on the Texas Tech University campus.

      The hearing, whose purpose is to gather input on the future of agriculture policy relative to the 2012 Farm bill, will be held in the Museum at Texas Tech University and begin at 9:00 a.m.

      Plains Cotton Growers, Inc. President Brad Heffington, of Littlefield, Texas, has been invited to present testimony to the Committee at the Lubbock hearing. A full list of invited participants will be released prior to the hearing.

      "It is an honor to host a field hearing in Lubbock to discuss with local farmers and ranchers what's working in agriculture policy and what needs to be improved. This is a great opportunity for producers in West Texas to share their vision for agriculture policy," Neugebauer said. "The Agriculture Committee is holding these hearings around the nation to hear directly from farmers, and as one of the most productive and diverse agriculture areas of the country, I look forward to hearing what Texas producers have to say."

      Intent upon getting a head start on developing ideas for the 2012 Farm Bill House Agriculture Committee (HAC) Chairman Collin C. Peterson (D-MN) announced the start of the hearing process and locations for a series of full HAC Hearings at locations across the United States earlier this week.

      The announced hearing schedule starts today, April 30, in Des Moines, Iowa, Other hearing locations include: Nampa, Idaho (May 1); Fresno, California (May 3); Laramie, Wyoming (May 4); Morrow, Georgia (May 14); Troy, Alabama (May 15); Lubbock (may 17; and Sioux Falls, South Dakota (May 18).

 

2009-crop Average Price Received By
Growers Up; Marketings Top 8.1 Mil. Bales

Friday, April 2, 2010                                  By Shawn Wade

      Cumulative Upland cotton marketings for the first seven months of the 2009 marketing year now total 8.1 million-bales according to information released April 30, 2010 by the USDA National Agricultural Statistics Service.

      USDA estimated March 2010 cotton marketings at 570,000 bales with an average selling price of 64.50 cents per pound. The preliminary mid-month price reported for April 2010 was 63.5 cents per pound.

      The 2009 Upland cotton Weighted Average Price calculated through March 2010 now stands at 61.49 cents per pound with two-thirds of the marketing year now past.

      To date the estimated 2009 Upland cotton Weighted Average Price is 9.49 cents above the 52-cent threshold where the Upland cotton Counter-cyclical payment begin to drop below statutory maximum payment rate. Based on these numbers the estimated marketing year-end Counter-cyclical payment rate has fallen to 3.09 cents per pound.

      Based on provisions of the 2008 Farm Bill, the Upland cotton Counter-cyclical payment rate goes to zero when the Weighted Average Price Received hits 64.58 cents per pound.

      The following table shows the average price received each month by farmers and the associated weighted average price based on prices and cumulative marketings from August 1, 2009 through March 2010.

      The 2009 Counter-cyclical payment rate authorized under the 2008 Farm Bill will be based on the 12-month Weighted Average Price Received by growers. For cotton the 12-month Weighted Average Price will reflect price and marketings for the 2009 marketing year. The 2009 cotton marketing year began August 1, 2009 and ends July 31, 2010.

Average Price Received For
2009-crop Upland Cotton
(
Weighted by Marketings)

 

Marketings

Prices

 

(000's of Running bales)

(cents/Lb.)

 

Monthly

Cum.

Monthly

Weighted

August

30

30

47.70

47.70

September

225

255

55.00

54.14

October

271

526

56.70

55.46

November

1,611

2,137

58.50

57.75

December

2,536

4,673

62.80

60.49

January

1,618

6,291

60.60

60.52

February

1,262

7,553

65.00

61.27

March

570

8,123

63.90*

61.49

April

n/a

n/a

63.50*

n/a

Source: National Agricultural Statistics Service; * = preliminary

 

COTTON USA Hosts Third "Cotton School"
For Chinese Textile and Apparel Industry

SPECIAL – April 29, 2010 - More than 150 guests from the U.S. and China attended the third COTTON USA Cotton School in Haikou, China, on April 22-23. The school gathered leading mills and manufacturers in China's textile and apparel industry to explore the U.S. cotton market perspectives in China. Representatives of the U.S. Embassy's Agricultural Affairs Offices in Beijing and Guangzhou also took part in the school.

      Similar to the previous two China Cotton Schools in 2006 and 2008, this year's school invited experts from the U.S. and the region to deliver presentations on a wide variety of topics on U.S. cotton.   

      Topics included the U.S. cotton classification system, cotton flow and processing, futures and option markets, the U.S. retail market and the global cotton supply chain.

      Featured speakers included: Mr. Philip Bogel, First Vice President of American Cotton Shippers Association (ACSA); Mr. Terence Yu, Director of AMCOT; Dr. Leon Cui, Lead Scientist and Research Cotton Technologist of the U.S. Department of Agriculture (USDA) Agricultural Research Service; Dr. William Robertson, Manager of Cotton Agronomy, Soils and Physiology, National Cotton Council of America; Mr. Joseph J O'Neill, Consultant, Physical and/or Futures Commodity Industry; Ms. Carol Skelly, Fibers Analyst, USDA; and Mr. Jesse Curlee, President of Supima.

      Ms. Sherry Wu and Mr. Edward Zhuang of Cotton Incorporated and Ms. Karin Malmstrom of CCI also presented at the school. A panel discussion with the speakers enabled the participants to have an in-depth understanding of the U.S. cotton industry.

      This school provided a platform for an exchange of views between Chinese mills and the U.S. cotton industry. Given the significant price increase of cotton recently, many participants expressed concern about the future trend of cotton prices.

      Most of the participants believe that the School offers opportunities for them to network with their peers and the expert panelists on issues of mutual interest. In a follow up survey, the participants unanimously indicated that, if the school were to be held again in two years, they would attend again .

 

The Hand That Feeds U.S.

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