August 2017 China Cotton Market Report

In July, China imported 411,171 bales (89,522 MT) of cotton, an increase of 23.77 percent month-on-month (m/m), and a decrease of 5.61 percent year-on-year (y/y).

The U.S. was ranked as the second largest cotton supplier to China in July, while Australia was ranked first, and India fifth.  Although the imports from Australia increased rapidly in July, US cotton hit 52.73% to China’s total imports from January to July, while Australia registered 13.3% in total.

This month, China has decided to extend the 2016-2017 cotton reserve auction to September 29th, aiming to maintain stable market supply and cotton prices while the textile industry waits for the 2017-2018 cotton harvest to make it to market, which is similar to the government’s decision to extend last year’s auction.

For more details, please see the attached report.

2017-0905 Cotton Market Report August 2017

2017 COTTON USA Orientation Tour

Please find the Participant List and Itinerary for the 2017 COTTON USA Orientation Tour. There are currently 24 textile executives participating in the Tour, along with 5 staff members for a total of 29 people.

The tour will meet with cotton industry members in the following cities:

Monday, September 25th, Raleigh, NC: Reception and Dinner-Angus Barn-6:30 pm

Tuesday, September 26th, Memphis, TN: Meeting-The Peabody Hotel, Hernando Desoto Room-5:00 pm
Reception and Dinner-Cotton Museum-7:00 pm

Wednesday, September 27th, Dallas, TX: Reception and Dinner-Tower Club-6:00 pm

Thursday, September 28th, Lubbock, TX: Reception and Dinner-Cotton Creek, New Home, TX-6:30 pm

Friday, September 29th, Visalia, CA: Meeting-Marriott Convention Center-5:00 pm
Reception and Dinner-Vintage Press-7:00 pm

Please contact the ACSA office with your plans to attend the September 25th, 26th or 29th events.

2017-0831 2017 COTTON USA Orientation Tour Participant List

2017-0831 2017 COTTON USA Orientation Tour Itinerary

NCC Chairman Lee Testimony before House Ag Subcommittee

Rep. Rick Crawford (AR-1), Chairman of the House Agriculture Committee’s Subcommittee on General Farm Commodities and Risk Management, held a hearing to further examine the effectiveness of farm policy in advance of crafting the next farm bill. Members of the committee heard from witnesses who shared the perspectives of the cotton, rice, peanut, canola, and sugar industries on the importance of both commodity policy and crop insurance. This hearing continues the committee’s hearing series to set the stage for the next farm bill.

“Under current conditions, the farm bill is being tested. With net farm income down for the fourth year in a row, it is critical we get farm policy right for farmers and ranchers. We must be mindful of the challenges all of our producers are facing when crafting the next farm bill,” said Subcommittee Chairman Crawford.

“Between disasters caused by Mother Nature and the predatory trade practices of foreign governments, American farmers are often faced with challenges completely outside their control, which is exactly why sound farm policy is of critical importance. The struggles of the cotton industry provide a perfect example of why all commodities need adequate risk management tools, including both commodity policy and crop insurance, to help them weather the bad times that come their way.” said Agriculture Committee Chairman K. Michael Conaway.

Click on the link below to view the testimony of NCC Chairman Ronnie Lee.

NCC Chairman Lee Testimony

 

CFTC Issues No-Action Relief for Aggregation Notice Filings for Position Limits

Today, the Commodity Futures Trading Commission (CFTC or Commission) issued time-limited no-action relief for aggregation notice filings for position limits.

Specifically, any person or entity that is eligible to rely on an exemption from aggregation under Regulation 150.4(b) will not need to comply with the notice filing requirements until August 14, 2017. Without the relief, notice filings would have been required for 150.4(b)exemptions beginning on the rule’s effective date of February 14, 2017.

The Commission notes that market participants may choose to file a notice with the Commission in a portal that will be available beginning on February 11, 2017.

Chairman Conaway Announces New and Returning Agriculture Committee Republican Members

PRESS RELEASE

FOR IMMEDIATE RELEASE  Haley Graves
January 11, 2017  (202) 225-2171
 
Chairman Conaway Announces New and Returning Agriculture Committee Republican Members
 

 

House Agriculture Committee Chairman K. Michael Conaway (R-TX) issued the following statement in response to the House Steering Committee’s recommendation of six new members to serve on the Agriculture Committee.

“This is a great group of incoming and returning members, both for the Agriculture Committee and the Republican conference as a whole. Their diverse backgrounds will be integral as the committee goes to work – from protecting the farm safety net for producers, to ensuring the Supplemental Nutrition Assistance Program (SNAP) works to help lift families out of poverty, to rolling back burdensome regulations that strangle businesses. I am confident in the team we have assembled, and I look forward to working alongside my new colleagues.”

The new House Agriculture Committee members are as follows.

Jodey Arrington, representing Texas’ 19th District
Don Bacon, representing Nebraska’s 2nd District
James Comer, representing Kentucky’s 1st District
Neal Dunn, representing Florida’s 2nd District
John Faso, representing New York’s 19th District
Roger Marshall, representing Kansas’ 1st District

Conaway also announced that Glenn ‘GT’ Thompson (R-PA), who chaired the Agriculture Committee’s Subcommittee on Conservation and Forestry in the 114th Congress, will serve as Vice Chairman of the committee.

“GT is always working on behalf of agriculture – both on and off the committee,” Conaway said. “His experience from serving three terms as Chairman of the House Agriculture Committee’s Subcommittee on Conservation and Forestry, as well as his diligent work to improving the nation’s production agriculture system are of great value to me and the committee.”

“I am honored to be named Vice Chairman of the House Committee on Agriculture,” Thompson said. “I look forward to continuing my work in the 115th Congress with our dedicated and knowledgeable Chairman Conaway who leads the Committee’s important work to represent rural America. Our farmers, ranchers and growers are the foundation of this great nation, and they play an essential role in the lives of everyday Americans. Representing rural Pennsylvania, it is a privilege for me to be one of the leading voices in the House of Representatives on these critical issues.”

Below is the complete House Agriculture Committee Majority roster for the 115th Congress.

Chairman K. Michael Conaway (TX-11)
Vice Chairman Glenn ‘GT’ Thompson (PA-5)
Bob Goodlatte (VA-6)
Frank D. Lucas (OK-3)
Steven King (IA-4)
Mike Rogers (AL-3)
Bob Gibbs (OH-7)
Austin Scott (GA-8)
Rick Crawford (AR-1)
Scott DesJarlais (TN-4)
Vicky Hartzler (MO-4)
Jeff Denham (CA-10)
Doug LaMalfa (CA-1)
Rodney Davis (IL-13)
Ted Yoho (FL-3)
Rick Allen (GA-12)
Mike Bost (IL-12)
David Rouzer (NC-7)
Ralph Abraham (LA-5)
Trent Kelly (MS-1)
James Comer (KY-1)
Roger Marshall (KS-1)
Don Bacon (NE-2)
John Faso (NY-19)
Neal Dunn (FL-2)
Jodey Arrington (TX-19)