WORLD MARKET PRICE FOR UPLAND COTTON - USDA
The U.S. Agriculture Department
announced the prevailing world market price, adjusted to U.S.
quality and location, for Strict Low Middling, 1-1/16 inch
upland cotton at 50.57 cts per lb, to be in effect through
midnight April 16.
    The adjusted world price is at average U.S. producing
locations (near Lubbock, Texas) and will be further adjusted
for other qualities and locations. The price will be used in
determining First Handler Cotton Certificate payment rates.
    The department said since the adjusted world price is above
the loan repayment rate of 44 cts per lb for the base quality,
no First Handler Cotton Certificates will be issued during the
period.
    Based on data for the week ended April 9, the adjusted
world price for upland cotton is determined as follows, in cts
per lb --
        Northern European Price -- 62.88
                 Adjustments --
 Average U.S. Spot Mkt Location --  9.98
         SLM 1-1/16 Inch Cotton --  1.80
          Average U.S. Location --  0.53
             Sum of Adjustments -- 12.32
           Adjusted World Price -- 50.63
 Reuter
