ABSTRACT
The fundamental requirements to succeed in worldwide cotton merchandising are to provide cotton at the lowest price, with the best quality, and with the best service. I believe we have been doing this for many years. Our basic pricing mechanism, the New York Futures market, has no parallel in the world. U.S. agricultural and textile research and development have long been on the leading edge of new advances in the industry, providing the world with invaluable technology to produce cotton with the most efficient economic value for existing and new spinning techniques. Our high degree of mechanization and the most developed transportation infrastructure in the world make it possible to have cotton on a stalk one Monday and on a boat the next Monday. Our unique geographic location, ports, and marine service make shipments easy and quick to all consuming markets. And, our long history of providing export financing packages that encourage consumption has no parallel.
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