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June 7, 2024
 

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PAST ISSUES/ARCHIVES
 
Cotton's Week: July 19, 2024
Cotton's Week: July 19, 2024
Cotton's Week: July 12, 2024
Cotton's Week: June 28, 2024
Cotton's Week: June 21, 2024
 
 


 

Farm Credit Nominee Supported

The NCC joined five organizations on a letter at https://bit.ly/3VdeQ86 to the Senate Agriculture, Nutrition, and Forestry Committee in support of Marcus Graham, who was recently nominated by President Biden to serve on the Farm Credit Administration’s (FCA) Board of Directors.

As the letter points out, Graham, who is the Farm Service Agency’s (FSA) Deputy Administrator for Field Operations, has worked at USDA for over twenty years in multiple roles. Previously, Graham has served as an FSA Senior Loan Specialist and in other financial services positions.

The letter concludes that Graham’s “financial experience combined with his overall leadership abilities make him uniquely qualified for the FCA Board of Directors” and urges the Committee to “expeditiously move” forward with the confirmation process. 

 

 

USDA Opens Enrollment for Grassland Conservation Program

The U.S. Department of Agriculture announced that agricultural producers and private landowners can now sign up for the Grassland Conservation Reserve Program through June 28, 2024. Grassland CRP, offered by USDA’s Farm Service Agency, is a voluntary working lands conservation program that enables participants to conserve grasslands and provide important conservation benefits for wildlife, soil health and carbon sequestration, all while continuing most grazing and haying practices.     

More than 2.3 million acres from agricultural producers and private landowners were accepted through the 2023 Grassland CRP signup. The current total participation in Grassland CRP is 8.64 million acres, which is part of the 24.8 million acres enrolled in CRP opportunities overall.    

Landowners and producers interested in CRP should contact their local USDA Service Center to learn more or to apply for the program before the June 28 deadline. 

 

NCC Comments on Pesticide Labels While EPA Releases Another Dicamba Label for Comment

This week the National Cotton Council (NCC) filed comments to the Environmental Protection Agency on Bayer's draft label for XtendiMax dicamba and for the proposed registration of glufosinate-p-ammonium, the new active ingredient contained in Liberty® ULTRA herbicide from BASF.

Regarding dicamba, the NCC noted extreme concern over the possible loss of the product and supported the draft label while urging EPA to work expeditiously to finalize the label.

In the Liberty comments, the NCC supported the registration of Liberty ULTRA as an advance in herbicide technology to benefit growers and other agricultural stakeholders. NCC stated that Liberty ULTRA would provide foundational, broad spectrum weed control that can be used for cotton with an additional in-season postemergence weed control option.

In other news, the EPA released the proposed Engenia dicamba label from BASF for public comment.  Comments are due July 5th and the NCC will review the label and provide comments.

 

2024 P.I.E. Program Tour Dates Set

The NCC scheduled tour dates and locations for the 2024 Producer Information Exchange (P.I.E.) Program.

Launched in 1989, the program has enabled more than 1,200 U.S. cotton producers to visit Cotton Belt regions different than their own where they learn about their peers’ innovative production practices. 

Sponsored by BASF through a grant to The Cotton Foundation, the P.I.E. program has a goal of helping U.S. cotton producers maximize production efficiency and improve yields and fiber quality by: 1) gaining new perspectives in such fundamental practices as land preparation, planting, fertilization, pest control, irrigation and harvesting; and 2) observing diverse farming practices and the unique ways in which other resourceful producers have adopted new and existing technology. 

A unique program benefit is that the participants will interact with the producers they visit on the tours and with producers from their own region that they travel with during the week.

During the week of July 28-August 2, producers from the Mid-South and Southeast will see farming operations in California. The second tour, set for August 4-9, will enable Southwest and West producers to travel to the Southeast and observe farming operations in Georgia.

 

Sales Slip, Shipments Steady

Net export sales for the week ending May 30, 2024 were 144,900 bales (480-lb.).  This brings total ‘23-24 sales to approximately 13.1 million. Total sales at the same point in the ‘22-23 marketing year were approximately 14.2 million bales. Total new crop (‘24-25) sales are 1.8 million bales (480-lb.). 

Shipments for the week were 170,000 bales, bringing total exports to date to 9.7 million bales, compared with the 10.4 million bales at the comparable point in the ‘22-23 marketing year.

 

Capital Calendar

June 3

The House and Senate convened.

June 4

The Senate Agriculture, Nutrition, and Forestry Committee’s Subcommittee on Commodities, Risk Management and Trade held a hearing, “Pathways to Farming: Helping the Next Generation of Farmers.” More information and a link to view the hearing are at https://bit.ly/3VfD7KH.

Next Week

June 11

The House and Senate convene.

The House Appropriations Committee’s Agriculture, Rural Development, and Food and Drug Administration Subcommittee will hold a markup of the FY25 USDA-FDA appropriations bill. More information and a link to view the markup can be found at https://bit.ly/3KxGKqf

 

 
Effective June 7-13, 2024

 

Adjusted World Price, SLM 11/16 58.13 cents *
Fine Count Adjustment ('22 Crop) 0.18 cents  
Fine Count Adjustment ('23 Crop) 0.43 cents  
Coarse Count Adjustment 0.00 cents  
Marketing Loan Gain Value 0.00 cents  
Import Quotas Open 13  
Special Import Quota (480-lb. bales) 423,095  
ELS Payment Rate 0.00 cents  
*No Adjustment Made Under Step I  
     
Five-Day Average  
Current 5 Lowest 13/32 CFR Far East 82.40 cents  
Forward 5 Lowest 13/32 CFR Far East  82.47 cents
Fine Count CFR Far East 84.42 cents  
Coarse Count CFR Far East 84.05 cents  
Current US 13/32 CFR Far East 84.15 cents  
Forward US 13/32 CFR Far East 85.35 cents