The USDA last Thursday announced another Step 3 import quota for cotton. According to Dr. Gary Adams, Vice President of Economics and Policy Analysis for the National Cotton Council, competitiveness provisions triggered a Step 3 import quota based on price conditions for the week ending September 7.
In addition to Thursday’s quota announcement, Adams says four other quotas are currently open totaling about 430,000 bales and he believes there will be more.
Adams says it’s important to keep in mind that although there are a number of Step 3 quotas open, the U.S. mills still import only a small amount of cotton.
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