In order to gain passage of a farm bill that effectively addresses all needs, the National Cotton Council (NCC) is looking forward to working with the House and Senate agriculture committees. NCC wants cotton brought back into the farm law’s Title I commodity policy as it is the only crop that does not have revenue protection policy in the farm bill.
"Including cotton in Title I would enable cotton producers to access the risk management tools that provide protection during prolonged periods of depressed market conditions," NCC chairman Ronnie Lee said.In order to gain passage of a farm bill that effectively addresses all needs, the National Cotton Council (NCC) is looking forward to working with the House and Senate agriculture committees. NCC wants cotton brought back into the farm law's Title I commodity policy as it is the only crop that does not have revenue protection policy in the farm bill.#
A NCC testimony informs that although current cotton futures market prices have increased from year-ago levels, many producers continue to struggle with prices at levels not adequate to cover all production costs.
"USDA 2016 data shows that 19 per cent of cotton farms are considered either highly or extremely highly leveraged," NCC stated.
NCC’s testimony noted that while the world’s consumers continue to express their preference for cotton products, the tremendous increase in low-priced polyester production has created extraordinary hurdles for increasing global cotton demand. (AR)
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