This week, the American Farm Bureau Federation released an updated analysis showing crop and livestock prices falling to levels that threaten the livelihoods of many U.S. farmers and ranchers. As for cotton, which depends heavily on foreign manufacturing capacity, prices are down nearly 30%. Georgia Cotton Commission (GCC) Executive Director, Richey Seaton, says exports was an issue they discussed with lawmakers in Washington D.C. last month before the height of the coronavirus pandemic.
Of course, producers are being encouraged to apply for the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP), which is a part of the new CARES Act. And, the 2018 Farm Bill did extend the cotton commodity loan programs for the 2019 through 2023 crop years. This includes the Marketing Assistance Loan (MAL) program and the Loan Deficiency Payment (LDP) program. More information can be found on the GCC website.