SINGAPORE - Bulging cotton inventories in China and slumping oil markets have triggered a race to the bottom between cotton and polyester prices. Both fibers compete for buyers in the textile industry, and cotton seems to be gaining the upper hand for the first time in years.
China’s top cotton producer, a quasi-military body formed 60 years ago to settle the far west Xinjiang area, is resisting a government policy that could force it to cut output in an industry employing hundreds of thousands in the restive region.
WASHINGTON — Senate Agriculture Committee Chair Debbie Stabenow, D-Mich., and ranking member Pat Roberts, R-Kansas, recently released a farm bill proposal and announced that the committee will begin consideration of the bill on Wednesday.
BISMARCK, N.D. — Cooperation with southern Republican senators representing peanut, cotton and rice growers will be a key to whether a Revenue Loss Assistance Program can be passed in the Senate, said officials gathered for a roundtable on the 2012 farm bill.
OMAHA, Neb. — House Agriculture Committee ranking member Collin Peterson, D-Minn., said March 4 that he will run for re-election, partly because he is not sure that Congress will finish a farm bill in 2012 and he wants to be on hand for writing it.
SCOTTSDALE, Ariz. — House Agriculture Committee ranking member Collin Peterson, D-Minn., said that it will soon be time for congressional leaders to take charge of writing the farm bill as representatives of general farm and commodity groups signaled at a crop insurance convention in Scottsdale, Ariz., that they are still promoting their individual proposals and are not close to compromise on a comprehensive approach.
SCOTTSDALE, Ariz. — A series of farm group representatives signaled at the recent annual crop insurance industry conference in Scottsdale, Ariz., that they are still sticking to their individual positions on farm bill proposals.
WASHINGTON — In a demonstration of the up-and-down nature of the crop insurance industry, payments to farmers for crop losses in 2011 have totaled $9.1 billion so far, the highest in American history, according to charts released recently by the U.S Department of Agriculture Risk Management Agency.
SAN ANTONIO — U.S. cotton producers intend to plant 12.5 million acres of cotton this spring, up 14 percent from 2010, and less corn, soybeans, specialty crops and peanuts, according to the National Cotton Council’s 28th Annual Early Season Planting Intentions Survey released at the council’s recent annual meeting in San Antonio.
SAN ANTONIO — With action on the farm bill not unexpected until 2012, trade negotiations in flux, cotton prices at record levels and the outcome of federal budget battles uncertain, the National Cotton Council has postponed any decisions about farm bill priorities and is focusing on trade issues in the short term.
WASHINGTON — High world cotton prices have led to a big drop in government payments to cotton farmers, but that decrease in subsidies will mean it will be difficult for Congress to make changes to resolve the World Trade Organization cotton case against U.S., which Brazil won, House Agriculture Committee Chairman Collin Peterson, D-Minn., said in a recent interview.
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