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September 20, 2024
 
 

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PAST ISSUES/ARCHIVES
 
Cotton's Week: October 4, 2024
Cotton's Week: September 27, 2024
Cotton's Week: September 20, 2024
Cotton's Week: September 13, 2024
 
 


 

Urgent Assistance for Producers Needed
 
National Cotton Council staff outlined the critical economic situation facing cotton producers. The document at https://bit.ly/3XTXrUA highlights the urgent need for federal assistance for the producer segment before the end of the year and was distributed via email and social media. An extension of the current farm bill without enhanced support levels for growers would be devastating, leaving many unable to secure operating loans for the 2025 growing season. Please share this information with your members of Congress as well as their staffs. It is also vital that we use all means of communication through social media to bring attention to the critical need for producer support in 2024. Feel free to use the talking points and charts in this document in any social media messages from your organizational accounts.

 

 

NCC Pushes for End to East Coast Ports Labor Dispute, Halt to West Coast Port Regulations
 
The National Cotton Council joined 177 organizations on a letter at https://bit.ly/4gy4iKA to President Biden urging his administration to aid in negotiating an end to the current labor dispute between the United States Maritime Alliance (USMX) and the International Longshoremen’s Association (ILA) related to the 45,000 dockworkers servicing East and Gulf Coast ports.
 
Negotiations between the ILA and USMX have been contentious since they began earlier this year. Strikes or slowdowns are possible if a new labor contract between the two parties is not agreed upon before September 30, when the current contract expires.
 
The letter to President Biden stresses that ILA and USMX must “remain at the bargaining table for as long as necessary to reach an agreement that avoids a work stoppage and the serious economic consequences that would follow.” If a resolution is not found and a strike or other disruption occurs, the letter urges the Biden administration “to utilize every authority at its disposal to ensure the continuing flow of goods and avoid undue harm to American consumers and the Nation’s economy.”
 
Also this week, NCC’s Vice President of Washington Operations, Robbie Minnich, was joined by representatives from the National Retail Federation, National Association of Manufacturers, American Trucking Association, and American Forest and Paper Association in a briefing for Members of the House Transportation and Infrastructure Committee regarding the potential port strike and its implications for NCC members.

In a separate effort, the NCC joined many organizations on a letter at https://bit.ly/4gHFsrM to the mayors of Los Angeles and Long Beach, California, urging them to oppose proposed regulations aimed at lowering emissions at the West Coast ports. As the letter points out, the proposed regulations are unrealistic given existing infrastructure and threaten to “eviscerate the region’s economy and disrupt the nation’s access to essential goods.”  

 

Cotton Industry Submits Comments to EPA on Malathion

The National Cotton Council, regional cotton producer organizations, and boll weevil eradication programs from across the Cotton Belt submitted comments on the EPA Proposed Interim Registration Review Decision for malathion. Comments from the organizations can be found using the following links: NCC; Boll Weevil Eradication Programs; Texas Boll Weevil Eradication Foundation; Regional Cotton Producer Orgs 

 

USDA RMA Cotton Monitoring Program Update
 
The National Cotton Council has received inquiries from industry segments regarding the status of USDA-Risk Management Agency’s (RMA) cotton monitoring program. RMA reimplemented the program for the 2024 crop to review and oversee the adjustment of early season crop losses. 
 
NCC staff participated in a meeting with RMA last week where we were informed that a notice was provided to Approved Insurance Providers (AIPs) stating that the initial portion of review is now closed and that further daily report submissions will not be required at this time. 
 
However, the policies in which reappraisals were conducted are still open as RMA is awaiting final transmission of the policy files and claim documents. RMA is now moving on to a more targeted review of the crop and AIP’s will be notified of policies where they request a pre-harvest inspection and claim review of producers based on their datamining and field work.
 
The NCC staff is a strong supporter of the cotton monitoring program and will remain in contact with RMA to urge an effective monitoring program for future years.

 

White House to Take Action on De Minimis
 
The Biden administration announced that it intends to curb “significant increased abuse” of import rules by eliminating the $800 duty-free de minimis threshold on products subject to Section 201, 232, and 301 tariffs.
 
This announcement, which will be followed up with formal rulemaking, largely mirrors legislation that advanced out of the House Ways and Means Committee in April but has since failed to reach the House floor. The Biden administration estimates its proposed actions on de minimis will cover approximately 70% of textile and apparel imports from China.
 
The Biden administration also announced that it intends to better support U.S.-made textiles by expanding interagency procurement efforts and will expand enforcement of the Uyghur Forced Labor Prevention Act.

 

Export Sales for Week Ending September 12
 
Net export sales for the week ending September 12, 2024 were 124,500 bales (480-lb.). This brings total ‘24-25 sales to approximately 5.2 million. Total sales at the same point in the ‘23-24 marketing year were approximately 5.7 million bales. Total new crop (‘25-26) sales are 369,200 bales (480-lb.). Shipments for the week were 138,500 bales, bringing total exports to date to 951,300 bales, compared with the 1.3 million bales at the comparable point in the ‘23-24 marketing year.

 

Capitol Calendar
 
This Week

September 16

The Senate convened.

September 17
 
The House convened.

September 18

The Senate Agriculture, Nutrition, & Forestry Committee’s Food and Nutrition, Specialty Crops, Organics, and Research Subcommittee held a hearing, “Keeping Kids Learning in the National School Lunch Program and School Breakfast Program.” More information and a link to view the hearing are at https://bit.ly/4eluExj.
 
Next Week

September 23

The House and Senate convene.

 

 
Effective September 20-26, 2024

 

Adjusted World Price, SLM 11/16 58.83 cents *
Fine Count Adjustment ('23 Crop) 0.00 cents  
Fine Count Adjustment ('24 Crop) 0.00 cents  
Coarse Count Adjustment 0.00 cents  
Marketing Loan Gain Value 0.00 cents  
Import Quotas Open 13  
Special Import Quota (480-lb. bales) 541,533  
ELS Payment Rate 0.00 cents  
*No Adjustment Made Under Step I  
     
Five-Day Average  
Current 5 Lowest 13/32 CFR Far East 81.63 cents  
Forward 5 Lowest 13/32 CFR Far East  NA
Fine Count CFR Far East 84.37 cents  
Coarse Count CFR Far East 82.07 cents  
Current US 13/32 CFR Far East 82.15 cents  
Forward US 13/32 CFR Far East NA