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A service for agriculture industry professionals · Tuesday, November 29, 2022 · 603,781,619 Articles · 3+ Million Readers

USDA Announces 2023 Upland Cotton Marketing Assistance Loan Rate

WASHINGTON, Sept. 30, 2022 – The U.S. Department of Agriculture (USDA) Commodity Credit Corporation today announced that the marketing assistance loan rate for 2023-crop base quality upland cotton is 52.00 cents per pound.

Marketing assistance loans provide interim financing to producers so that commodities can be stored upon harvest when market prices are typically low and sold later when price conditions are more favorable.

Base quality upland cotton has the following characteristics: color grade 41, leaf grade 4, staple length 1-1/16 inches, micronaire 3.5-3.6 and 4.3-4.9, strength 26.0-28.9 grams per tex and length uniformity of 80.0-81.9%.

The Agriculture Improvement Act of 2018 (2018 Farm Bill) established the base quality marketing assistance loan rate for upland cotton as the simple average of the adjusted prevailing world price for the two immediately preceding marketing years as determined by the Secretary of Agriculture.  The marketing assistance loan rate cannot be less than 45 cents per pound or greater than 52 cents per pound.  The loan rate may not be less than an amount equal to 98% of the loan rate for base quality of upland cotton for the preceding year.

USDA touches the lives of all Americans each day in so many positive ways. In the Biden-Harris administration, USDA is transforming America’s food system with a greater focus on more resilient local and regional food production, fairer markets for all producers, ensuring access to safe, healthy and nutritious food in all communities, building new markets and streams of income for farmers and producers using climate smart food and forestry practices, making historic investments in infrastructure and clean energy capabilities in rural America, and committing to equity across the Department by removing systemic barriers and building a workforce more representative of America. To learn more, visit usda.gov.

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