The U.S. Department of Agriculture’s Farm Service Agency has revised the ELS loan rate differential schedule for the 2010 crop of cotton.
The revised rates apply only to ELS cotton and do not impact previously announced upland cotton loan rates for 2010-crop cotton.
The revised rates replace rates announced on April 19 and are more reflective of prevailing ELS cotton market prices. The revised ELS cotton loan rate differential schedule for individual qualities for 2010 cotton is available on the FSA Price Support Division Web pages (www.fsa.usda.gov/pricesupport).
The schedule is used by the Commodity Credit Corporation (CCC) in making nonrecourse marketing assistance loans to cotton producers and includes factors such as grade, staple length, color and leaf qualities.
The 2010 crop schedule of differentials is applicable to the national average loan rate of 79.77 cents per pound for ELS cotton.
For more information on FSA’s price support programs go to your local FSA county office or visit http://www.fsa.usda.gov/.