COTTON CROP CLOSE BUT SLIGHTLY BEHIND AVERAGE

US LOOKS TO FILL VEG OIL DEMAND

WHAT'S NEW @ COTTONSEED.COM

COTTONSEED PRODUCTS EXPORT REPORT

HOUSE AG COMMITTEE TO HOLD HEARINGS ON EMINENT DOMAIN

COTTONSEED PRODUCTS CURE DRY WEATHER

MOVING?

COTTON CROP CLOSE BUT SLIGHTLY BEHIND AVERAGE - Arkansas, Louisiana, and Texas were the only Cotton Belt states reporting cotton boll settings ahead of their five year average, according to the latest USDA data.  California was right on target with its’ average.  Alabama, South Carolina and Oklahoma were more than 20% behind their five year averages for percent setting bolls, with Virginia and North Carolina close behind.

US LOOKS TO FILL VEG OIL DEMAND - If the trend continues, the US will look more and more for overseas suppliers to make up for its domestic vegetable oil shortfall.  That’s according to data released from USDA showing domestic vegetable oil production is not keeping pace with domestic vegetable oil consumption.  For the 2005/06 marketing year beginning August 1, forecasters expect the US will produce 9.72 million metric tons of vegetable oil compared with total domestic usage of 10.4 million metric tons, a shortfall of 680,000 metric tons.  In addition, that’s 11% more than last year’s veg oil deficit of 610,000 metric tons but much less than the 1.29 million metric ton shortfall of three years ago.  Analysts expect palm oil will make up much of the veg oil deficit.  While that is a somewhat recent development for the veg oil industry, domestic meal production has consistently exceeded meal demand.  Soybean meal production makes this possible with meal a consistent export product.  Through the 1990’s, US meal production experienced average growth rates of 3-4% annually.  That has slowed somewhat during the past five years to between 0 and 2%.  The World Agriculture Outlook Board released its July estimate and pegged US soybean meal production at 40.235million short tons, up from its June estimate of 40.035 million short tons and nearly equal to the 40.274 million ton level of last year.  It’s nearly 11%, however, above the 36.3 million ton mark of the 2003/04 season. (Source: USDA, WAOB, July 12, 2005)

WHAT'S NEW @ COTTONSEED.COM - With the completion of this week’s crush report, cottonseed crushings for the 2004-05 season appear to have surpassed 2.8 million tons for the first time since the 1999/2000 season.  Complete details are available in the Statistics section. The latest supply & demand forecasts for cottonseed products as well as export data for cottonseed and cottonseed products are also regularly updated in the Statistics section of the web site.…..Cottonseed meal remains in demand in a large portion of Mexico.  Read the full report from NCPA’s latest trade mission through Chihuahua, Culiacan and Guadalajara in the Member News & Updates section.

COTTONSEED PRODUCTS EXPORT REPORT

HOUSE AG COMMITTEE TO HOLD HEARINGS ON EMINENT DOMAIN - The Chairman of the House Committee on Agriculture joined Representatives Henry Bonilla (R-TX) and Stephanie Herseth (D-SD) in introducing the Strengthening the Ownership of Private Property (STOPP) Act.  The legislation was introduced in response to the narrow 5-4 U.S. Supreme Court decision, Kelo v. City of New London, giving local governments broad eminent domain power to seize private property from one party and give it to another. Chairman Goodlatte announced that the Committee on Agriculture has been granted primary jurisdiction of this legislation and pledged to hold hearings on the issue in early September. “This appalling decision strikes a serious blow to the core values of our Nation, and has far reaching implications,” said Chairman Goodlatte.  “In defining “public use” so expansively, the Court essentially erased any protection of private property as understood by the Founders of our Nation.  In the words of Thomas Jefferson, “A government big enough to give you everything you want is a government big enough to take away everything you have.””  The Supreme Court's recent ruling gives local governments broad power to seize property to generate tax revenue.  State and local governments can now use eminent domain to take away the property of any individual for nearly any reason, including taking property for the benefit of another individual or corporation. Cities can now bulldoze private citizens’ homes or seize family farmland to make way for shopping malls or other development, essentially ensuring that no citizen’s property is safe.  The STOPP Act will prevent governments from taking property from one private party and giving it to another private party.  When abuses occur, the STOPP Act will prevent localities and states from receiving federal economic assistance on all economic development projects, not just those upon which abuses occur.  The legislation will also make state and local governments subject to the Uniform Relocation Act, which provides fair market value and moving expenses for citizens relocated by abuses. (Source: US House Committee on Agriculture)

COTTONSEED PRODUCTS CURE DRY WEATHER - With several parts of the country experiencing periods of drought, one sure outcome is likely to be a short hay crop.  A livestock management specialist at the University of Arkansas at Pine Bluff noted that hay feeding may have to begin later this summer or early this fall, putting more pressure on this winter’s hay demand.  To ensure a cow herd has enough forage to get through these times, there are a couple of suggestions: 1—Try to manage your current hay demand, and 2—Manage grazing to conserve pastures.  Once that’s done, that’s where cottonseed products come to the rescue.  Cottonseed hulls make an excellent winter feed and are good substitutes for forages and hay. Whole cottonseed is also recommended as it has a higher energy and protein than hulls and makes a good supplement to hay.  (Source: Delta Farm Press)

MOVING? - Please send all change of address information to: National Cottonseed Products Association, 104 Timber Creek Drive, Suite 200, Cordova, TN  38018, or email to info@cottonseed.com.

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© National Cottonseed Products Association, Inc.

July 28, 2005