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June 28, 2024
 

25_025990_PHY-DG_Feb NCC ENewsletter_289 x 640 (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

™ ®Trademarks of Corteva Agriscience and its affiliated companies. ©2024 Corteva.

 

 

 

 





 
PAST ISSUES/ARCHIVES
 
Cotton's Week: April 11, 2025
Cotton's Week: April 4, 2025
Cotton's Week: March 28, 2025
Cotton's Week: March 21, 2025
 
 


 

NCC Announces Don Parker Memorial Scholarship
 
The National Cotton Council (NCC), in collaboration with The Cotton Foundation and Mississippi State University, is honored to announce the establishment of the Don Parker Memorial Cotton Foundation Endowed Scholarship.
 
Dr. Don Parker served the NCC from 2007 to 2023, first as Manager of Integrated Pest Management and later as Vice President, Technical Services and Executive Director of the Cotton Foundation. He dedicated his career to advancing agricultural education, promotion, and inclusivity within the agriculture industry. As a visionary leader, he championed the cause of underrepresented minorities, recognizing their immense potential to shape the future of farming. This scholarship seeks to provide permanent financial support to deserving students who aspire to achieve degrees in agricultural-related programs.
 
Two tax deductible opportunities exist to honor the work of Dr. Don Parker. Larger group or corporate donors may prefer to choose the permanent endowed scholarship, while individuals may wish to make an immediate impact in Fall 2025. Follow this link to donate to either the Fall 2025 scholarship and/or the permanent endowed scholarship.

 

 

Carhartt, Inc. Joins U.S. Cotton Trust Protocol
 
Carhartt, Inc. is the latest brand to join the U.S. Cotton Trust Protocol’s sustainable cotton program.
 
Carhartt, known for producing durable gear designed to serve and protect hardworking people for more than 135 years, has chosen to join the Trust Protocol as part of its strategy to source more responsibly grown cotton. Carhartt’s Membership in the Trust Protocol will also provide transparency as the company works to gain greater insight into their supply chain by allowing full traceability of the U.S. cotton in their gear.
 
To learn more about The Trust Protocol, visit TrustUSCotton.org.

 

Chevron Deference Overturned by Supreme Court
 
In a long-awaited move, the Supreme Court overturned "Chevron deference" in a vote of 6–3. The Chevron Deference gave power to an agency to apply its own interpretation to a statute that it administered unless Congress specifically intervened, which rarely happened.

The doctrine came from a ruling in Chevron v. Natural Resources Defense Council in 1984. The court stated that while courts could consider Congressional intent, if the courts find Congress has not precisely addressed an issue, then the court could determine whether the agency’s answer is based on a reasonable interpretation of the statute.
 
The ruling at https://bit.ly/4bqxr6G is expected to have a huge impact on future regulations.

 

USDA Raises 2024 Acreage Estimate
 
In its June acreage report, USDA estimated 2024-25 U.S. cotton plantings at 11.67 million acres, up 14.1% from 2023 (Exhibit 1). Upland planted area is estimated to have increased 13.9% to 11.49 million acres. ELS cotton producers planted 182,000 acres, up 23.8%. USDA’s June projection for all cotton is up 997,000 acres from their initial 2024 estimate released in March.
 
On a regional basis, upland area in the Southeast is up 5.3% to 2.37 million acres. The largest increase in planted acres is projected for Alabama with plantings estimated at 450,000 acres (18.4%). Plantings are expected to increase in both South Carolina (14.3%) and North Carolina (7.9%) with cotton acreage estimated at 240,000 acres and 410,000 acres, respectively. With an estimated 90,000 acres planted, Florida is up 1.1% from the previous year. A slight decline in cotton acreage is expected for both Virginia and Georgia. Virginia is down 1.2% with an estimated 80,000 acres planted while Georgia falls 0.9% to 1.10 million acres. 
 
Planted acres are expected to increase throughout the Mid-South, up 23.3% to an estimated 2.01 million acres. Arkansas and Mississippi are expected to see the greatest increase in terms of planted acres with estimates of 670,000 acres (31.4%) and 520,000 (30.0%) acres, respectively. With an estimated 400,000 planted acres, Missouri is up 19.4% over the previous year. Tennessee is expected to plant 300,000 acres in 2024, up 13.2% while plantings are unchanged from the previous year in Louisiana at an estimated 120,000 acres.
 
In the Southwest, estimated planted area is up 14.6% to an estimated 6.97 million acres. Kansas is the only state that is expected to see a decline in acreage with an estimated 110,000 acres planted, down 1.8%. Oklahoma acres are up from 2023 to an estimated 460,000 acres, an increase of 9.5%. Texas is expected to see an increase in acres with plantings estimated at 6.4 million acres (15.3%).
 
Estimated upland area in the West is up 14.0% to 138,000 acres. The largest increase in planted acres is expected for California (38.5%) with planted acres estimated to be 18,000 acres for 2024. Producers in Arizona are expected to plant 100,000 acres, up 31.6%. New Mexico is down 37.5% to an estimated 20,000 planted acres.
 
USDA estimates ELS plantings of 182,000 acres, up 23.8% from 2023. California is expected to increase their plantings by 52.9% with an estimated 130,000 acres. With an estimated 30,000 acres planted, Texas is up 3.4%. Producers in New Mexico are expected to plant 10,000 acres, down 41.2%. Arizona is down 25.0% to an estimated 12,000 planted acres.                               

 

Concerns Relayed Regarding East Coast Ports Labor Dispute
 
The NCC joined more than 150 organizations on a letter at https://bit.ly/3zwXk7i to President Biden urging his administration to assist in the negotiation of a new labor agreement between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) applying to the 45,000 dockworkers servicing East Coast ports.
 
Negotiations between the ILA and USMX have been contentious since they began in earnest 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 points out that given current challenges, including supply chain snags and Houthi attacks on vessels in the Red Sea, any labor disruptions would be “the last thing” companies need. All parties must “remain at the table until a new agreement is finalized,” the letter concludes.

 

Infrastructure Improvement Bill Advances in House
 
The House Transportation and Infrastructure Committee met to mark up the Water Resources Development Act (WRDA), which was subsequently reported out of the committee by a vote of 61-2. This bill now awaits action on the House floor.
 
The NCC joined more than 30 groups in endorsing the House WRDA bill, which authorizes improvements to inland ports, dams, and canals throughout the country – including in Texas, Louisiana, and Arkansas – under the direction of the U.S. Corps of Engineers. A similar Senate WRDA bill was unanimously reported out of the Environment and Public Works Committee in May. 
 
In opening remarks, both Transportation and Infrastructure Committee Chairman Sam Graves (R-MO) and Ranking Member Rick Larsen (D-WA) praised the WRDA bill, with Graves emphasizing the “central role” that safe and reliable infrastructure plays in “keeping our economy and supply chain moving.”

 

Synthetic Clothing Produces Plastic Pollution Equal to 820 Eiffel Towers Annually
 
A study in Nature Communications  conducted by Cotton Incorporated reveals synthetic clothing contributes 7.4 million metric tons of plastic pollution annually, mainly from macroplastic waste at the end of their life cycle and microplastic shedding during use. This is at least ten times more than cotton clothing and adds to the well-documented issue of microplastic shedding during the washing and wearing of these clothes. 
 
The report estimates that the global apparel industry contributes 14% of the total plastic leakage into the environment, which equates to approximately 8.3 million metric tons of plastic being released annually due mainly to the global production, use, and disposal of synthetic clothing. The term “plastic leakage” refers to the quantity of plastic released from human activity and pollutes the natural environment. See the full press release here.

 

Export Sales for Week Ending June 20
 
Net export sales for the week ending June 20, 2024 were 98,200 bales (480-lb.). This brings total ‘23-24 sales to approximately 13.6 million. Total sales at the same point in the ‘22-23 marketing year were approximately 14.5 million bales. Total new crop (‘24-25) sales are 2.2 million bales (480-lb.). Shipments for the week were 151,600 bales, bringing total exports to date to 10.2 million bales, compared with the 11.1 million bales at the comparable point in the ‘22-23 marketing year.
 
With less than two months remaining in the marketing year, weekly shipments must average roughly 263,600 bales to reach the USDA projection of 11.8 million bales.

 

Capital Calendar

The Senate was in recess.

June 25
 
The House convened.
 
June 26
 
The Senate Agriculture, Nutrition, and Forestry Committee’s Conservation, Climate, Forestry, and Natural Resources Subcommittee held a field hearing, “Combating Drought with Innovation.” More information and a link to view the hearing are at https://bit.ly/3VuzUqN.
 
The House Transportation and Infrastructure Committee held a markup of the 2024 Water Resources Development Act. More information and a link to view the markup are at https://bit.ly/4cn9RsH.
 
Next Week
 
The House and Senate are in recess.

 

 
Effective June 28-July 4, 2024

 

Adjusted World Price, SLM 11/16 58.23 cents *
Fine Count Adjustment ('22 Crop) 0.00 cents  
Fine Count Adjustment ('23 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) 448,016  
ELS Payment Rate 0.00 cents  
*No Adjustment Made Under Step I  
     
Five-Day Average  
Current 5 Lowest 13/32 CFR Far East 82.50 cents  
Forward 5 Lowest 13/32 CFR Far East  82.60 cents
Fine Count CFR Far East 85.02 cents  
Coarse Count CFR Far East 82.85 cents  
Current US 13/32 CFR Far East 82.85 cents  
Forward US 13/32 CFR Far East 84.85 cents