The US Agriculture Department set the prevailing world market price for upland cotton at 45.83 cents per pound, effective through May 21. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton. USDA also announced a special import quota for upland cotton that permits importation of a quantity of upland cotton equal to one week's domestic mill use.
The quota will be established on May 21, 2009, allowing importation of 13,711,541 kilograms (62,977 bales) of upland cotton. The next announcement for upland cotton will be on May 21.
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