| UPDATED
9/11/2003 |
|
|
|
|
| Estimated
CRC Harvest Price for early Cotton |
| for
Counties with Sales Closing 1/31 |
|
|
|
|
|
|
|
|
|
Daily |
|
|
|
|
|
|
Closing |
|
|
|
|
|
|
Price |
|
|
|
|
|
|
NYBOT |
|
|
|
|
|
|
Oct 03 |
|
|
|
|
|
| Date |
Cotton |
|
|
Date |
|
|
|
|
|
|
|
|
|
| 09/02/03 |
0.5750 |
|
|
09/17/03 |
|
|
| 09/03/03 |
0.5759 |
|
|
09/18/03 |
|
|
| 09/04/03 |
0.5792 |
|
|
09/19/03 |
|
|
| 09/05/03 |
0.5825 |
|
|
09/22/03 |
|
|
| 09/08/03 |
0.5765 |
|
|
09/23/03 |
|
|
| 09/09/03 |
0.5818 |
|
|
09/24/03 |
|
|
| 09/10/03 |
0.6070 |
|
|
09/25/03 |
|
|
| 09/11/03 |
0.6370 |
|
|
09/26/03 |
|
|
| 09/12/03 |
|
|
|
09/29/03 |
|
|
| 09/15/03 |
|
|
|
09/30/03 |
|
|
| 09/16/03 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Avg
Harvest |
Cotton |
|
|
|
|
|
| Price |
0.59 |
|
|
|
|
|
| Plant
Price |
$0.57 |
|
|
|
|
|
| Price Change |
$0.02 |
|
|
|
|
|
| %
change |
3.51% |
|
|
|
|
|
|
|
|
|
|
|
|
| An
Example for a South Texas Cotton Grower |
|
|
|
|
|
|
|
| The
Harvest Price will be multiplied times the grower’s cotton yield
in 2003. |
| A
grower with a 800 pound APH X 70% coverage X $0.59 base price would |
| have
had revenue guarantee of $330.40.
If this grower produced 150 pounds |
| then
based on today’s price |
$0.59 |
estimate
of the revenue |
| to
count would be |
$88.50 |
and
the indemnity payment would be the |
| difference
between the revenue to count and the revenue guarantee for gross |
| indemnity
payment of |
$241.90 |
(before
premium deduction). |
