The Department of Agriculture’s Commodity Credit Corporation announced that the competitiveness payment program payment rate in effect from 12:01 a.m., Eastern Time, Friday, August 9, 2019, through midnight, Eastern Time, Thursday, September 5, 2019, is zero. The next ELS payment rate announcement will be on September 5, 2019, at 4 p.m., Eastern Time.
ELS competitiveness payments are provided whenever, for 4 consecutive weeks, the lowest Friday through Thursday average adjusted price quotation for foreign growths (LFQ) is less than the Friday through Thursday average price quotation for U.S. Pima cotton, CFR Far East (USPFE); and the adjusted LFQ is less than 113 percent of the current 2019 crop year loan level for ELS cotton grade 2, staple 46, micronaire 3.5 or higher, strength 37.5 grams per tex and above (95.75 cents per pound).
Future payments will be established if price conditions warrant. Relevant data for the ELS competitiveness program follow:
To obtain an ELS agreement or to inquire regarding operational issues, please contact Carie Cameron, Kansas City Commodity Management Branch at (816) 926-3966 or by e-mail Carie.Cameron@ams.usda.gov.