No Ill-Advised Changes
Mark Lange
NCC President & CEO
Regarding the proposal to terminate cotton storage credits, the NCC's letter said that should be rejected because the credits are necessary to promote orderly marketing and discourage cotton forfeitures in years when prices are low. The credits only are provided in years when cotton prices are low. Concerns about the possible loss of storage credits also were conveyed by 16 Cotton Belt congressmen in a letter to the chairman and ranking member of the Agriculture Appropriations Subcommittee. The NCC's letter also raised specific concerns about the Administration's proposals to increase the costs that cotton producers must pay for federal crop insurance. In many areas, crop insurance is a prerequisite for securing production financing. The letter emphasized that no changes be made that weaken this important risk management tool's affordability and effectiveness.
source : cottonfarming
Mark Lange
NCC President & CEO
Regarding the proposal to terminate cotton storage credits, the NCC's letter said that should be rejected because the credits are necessary to promote orderly marketing and discourage cotton forfeitures in years when prices are low. The credits only are provided in years when cotton prices are low. Concerns about the possible loss of storage credits also were conveyed by 16 Cotton Belt congressmen in a letter to the chairman and ranking member of the Agriculture Appropriations Subcommittee. The NCC's letter also raised specific concerns about the Administration's proposals to increase the costs that cotton producers must pay for federal crop insurance. In many areas, crop insurance is a prerequisite for securing production financing. The letter emphasized that no changes be made that weaken this important risk management tool's affordability and effectiveness.
source : cottonfarming
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