Welcome to the August 23, 2024 issue of Cotton News, a service provided by Plains Cotton Growers Inc. for the cotton industry in the Texas High Plains and beyond.
PCG Sits down with Rep. Jodey Arrington (R-Texas)
Producers and industry from the Plains Cotton Growers Inc. Board of Directors met with Rep. Jodey Arrington (R-Texas) Thursday, August 29, to share concerns affecting the cotton industry.
The group discussed the need for strong farm policy that accurately reflects today’s cost of production. They also emphasized the need for economic disaster assistance to bridge the gap between 2023 and 2026 when the new Farm Bill will come into effect should it be passed in calendar year 2024.
The U.S. cotton industry is advocating for the following initiatives in the Farm Bill:
- Increasing the statutory reference price for seed cotton to 42 cents per pound;
- Enhancing the premium support for the Supplemental Coverage Option (SCO) to 80 percent, along with boosting the top coverage level to 90%;
- Raising the Marketing Assistance Loan (MAL) rate for Upland cotton to 55 cents per pound and for extra-long staple (PIMA) cotton to one dollar per pound — coupled with enhancements to the MAL repayment provisions that will improve cotton’s overall competitiveness and flow;
- Including harvest incentive research to support cotton producers and cotton infrastructure in times of peril; and
- Substantially increasing the funding for the Market Access Program and Foreign Market Development Program.