NEW YORK: The US Agriculture Department set the prevailing world market price for upland cotton at 57.80 cents per lb, effective from 12:01 a.m. Eastern Time Friday, July 5 through 12 p.m. Eastern Time on Thursday, July 11.

The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton.

The next announcement will be on Thursday, July 11 at 4 p.m. Eastern Time, USDA said.