Broadcast Newsline: March 14, 2012
The U.S. Department of Agriculture's (USDA) Commodity Credit Corporation (CCC) has announced revised loan rate ranges and base-quality ranges for upland cotton strength and length uniformity, and changes to the staple lengths for which distinct color and leaf loan rate differentials are provided.
This week's Cotton Newsline is 3 cuts.All cuts are Gary Adams, Vice President of Economics and Policy Analysis for the National Cotton Council.
Suggested Introduction 1
The U.S. Department of Agriculture's (USDA) Commodity Credit Corporation (CCC) has announced revised loan rate ranges and base-quality ranges for upland cotton strength and length uniformity, and changes to the staple lengths for which distinct color and leaf loan rate differentials are provided. Gary Adams, Vice President of Economics and Policy Analysis for the National Cotton Council, says the CCC uses measures of strength and length uniformity in determining the price support value of a bale of upland cotton.The base-quality ranges for these factors are those for which loan rate premiums and discounts do not apply.
Suggested Introduction 2
Adams discusses the changes which are consistent with the AMS price reporting and the objectives of the marketing assistance loan program.
Suggested Introduction 3
Adams says this is a change the cotton industry was anticipating.
