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The Farm Service Agency issued a correction to the 2024 Upland Cotton schedule of loan premiums and discounts. The correction resulted in changes to loan differentials for color, leaf, staple, strength, uniformity, and extraneous matter. As a result, the Risk Management Agency’s published Price B for each state has changed.
In accordance with the Special Provisions, Price B will be established by adding premiums and/or discounts associated with the predominant cotton quality characteristics, as determined by the Farm Service Agency, to the Upland and Extra Long Staple (ELS) Cotton National Average Loan Rates. The predominant quality characteristics of cotton in each state are determined from the most recent three years of Agricultural Marketing Service cotton classing data.
The USDA’s Risk Management Agency (RMA) manages the Supplemental Coverage Option (SCO) and Stacked Income Protection Plan (STAX), and USDA’s Farm Service Agency (FSA) manages the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs.
In order to make sure stakeholders are reminded of eligibility requirements, RMA is releasing additional information based on questions that have been asked. No program changes have been made with the release of these new documents.
In accordance with the Special Provisions, Price B will be established by adding premiums and/or discounts associated with the predominant cotton quality characteristics, as determined by the Farm Service Agency, to the Upland and Extra Long Staple (ELS) Cotton National Average Loan Rates. The predominant quality characteristics of cotton in each state are determined from the most recent three years of Agricultural Marketing Service cotton classing data.
The Agricultural Act of 2014 (Farm Bill) instructed the Risk Management Agency (RMA) to offer the Stacked Income Protection Plan of Insurance (STAX) to upland cotton producers. STAX became effective for the 2015 crop year and is offered in all counties where insurance for upland cotton is available.
For the 2023 and succeeding crop years, RMA is updating the STAX provisions to correct a reference in section 4(g) of the policy document.
The Agricultural Act of 2014 (Farm Bill) instructed the Risk Management Agency (RMA) to offer the Stacked Income Protection Plan of Insurance (STAX) to upland cotton producers, which became effective for the 2015 insurance year and was available in all counties where insurance for upland cotton was available.
In order to provide clarity for determining insurable acres, RMA is making the following modification to the STAX program:
In accordance with the Special Provisions, Price B will be established by adding premiums and/or discounts associated with the predominant cotton quality characteristics, as determined by the Farm Service Agency, to the Upland and Extra Long Staple (ELS) Cotton National Average Loan Rates. The predominant quality characteristics of cotton in each state are determined from the most recent three years of Agricultural Marketing Service cotton classing data.
The Farm Service Agency issued a correction to the 2020 Upland Cotton schedule of loan premiums and discounts. The correction removed the discount for cotton classed in the uniformity range of 80.0-80.9. As a result, the Risk Management Agency’s published Price B for Texas and Virginia have each increased by $0.0005.
For Texas and Virginia Only:
In accordance with the Special Provisions, Price B will be established by adding premiums and/or discounts associated with the predominant cotton quality characteristics, as determined by the Farm Service Agency, to the Upland and ELS Cotton National Average Loan Rates. The predominant quality characteristics of cotton in each state are determined from the most recent three years of Agricultural Marketing Service cotton classing data.
In accordance with the Special Provisions, Price B will be established by adding premiums and/or discounts associated with the predominant cotton quality characteristics, as determined by the Farm Service Agency, to the Upland and ELS Cotton National Average Loan Rates. The predominant quality characteristics of cotton in each state are determined from the most recent three years of Agricultural Marketing Service cotton classing data.
