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USDA Sets Cotton LDP and UMC Rate
WASHINGTON - Jan 22/04 - SNS -- The USDA's Commodity Credit Corporation today announced the prevailing world market price, adjusted to U.S. quality and location (adjusted world price or AWP).
The calculaytion covers Strict Low Middling (SLM) 1-1/16 inch (leaf grade 4, micronaire 3.5-3.6 and 4.3-4.9, strength 25.5-29.4 grams per tex, length uniformity of 80% to 82%) upland cotton (base quality), the coarse count adjustment (CCA), the loan deficiency payment rate, and the user marketing certificate (Step 2) payment rate that will be in effect from 12:01 a.m., Eastern time, Friday, Jan. 23, 2004, through midnight, Eastern time, Thursday, Jan. 29, 2004.
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