Today's Cotton Newsline is 3 cuts. All cuts are Angela Hooper, Associate Deputy Administrator of the USDA's Agricultural Marketing Service Cotton and Tobacco Program.
Suggested Introduction 1:
USDA's Agricultural Marketing Service (AMS) has published the final rule amending regulations to allow for the addition of an optional cotton futures classification procedure. Angela Hooper, Associate Deputy Administrator of the USDA's Agricultural Marketing Service Cotton and Tobacco Program, joins us today to explain how futures classification works.
Suggested Introduction 2:
This change was in response to requests from both the US cotton industry and the Intercontinental Exchange (ICE).
Suggested Introduction 3:
On a final note, Hooper explains how this new process, set to begin with the March 2014 contract month, will bring some important benefits to the cotton industry.