Broadcast Newsline: January 14, 2004

David Stanford, an official with Plains Cotton Cooperative in Lubbock, TX, and an NCC Board member, comments on the changing terrain of the cotton marketing system.

David Stanford, an official with Plains Cotton Cooperative in Lubbock, TX, and an NCC Board member, comments on the changing terrain of the cotton marketing system.

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Stanford says the swift worldwide adoption of electronic technology has drastically changed the dynamics of marketing cotton.

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The U.S. cotton industry has more tools to help make U.S. cotton more valuable, Stanford says, and that helps make marketing firms more competitive.

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In Stanford’s view, standardization is a key element in making electronic trading more efficient.

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U.S. textile mills are an example of being forced to face cost-cutting worldwide that has greatly changed the competitive environment.

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Stanford says the revenue support provided by the current farm law is critical in helping farmers obtain financing to stay in business.

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