The US Agriculture Department set the prevailing world market price for upland cotton at 57.82 cents per lb, effective through December 10. 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 December 10, allowing importation of 13,304,199 kilograms (61,106 bales) of upland cotton. The next announcement for upland cotton will be on December 10, at 4 pm Eastern time.
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