The US Agriculture Department set the prevailing world market price for upland cotton at 60.55 cents per lb, effective through December 24. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton.
USDA also today 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 next announcement for upland cotton will be on December 24, at 4 pm Eastern time.