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MONTHLY
SURVEY OF US COTTONSEED CRUSHINGS AND STOCKS
NCPA
MEXICO CONSULTANT REPORTS
WHAT’S
NEW @ COTTONSEED.COM
MONTHLY
SUMMARY OF US COTTONSEED CRUSHINGS & STOCKS (March 2007)
COTTON
LEADERSHIP CLASS APPLICATIONS SOUGHT
ANNUAL
CONVENTION NEWS & NOTES
SCHEDULE
OF EVENTS –111th ANNUAL CONVENTION
MONDAY,
MAY 7—GENERAL BUSINESS SESSION
MOVING?
MONTHLY
SURVEY OF US COTTONSEED CRUSHINGS AND STOCKS - Cottonseed
crushings for March totaled 247,520 tons, according to the Association’s
latest monthly survey. That is
11% higher than the 223,774 ton total of February 2007 but 11% lower than
the 276,692 ton figure of March 2006 and 9% less than the 267,204 level of
March 2005. Through the first
eight months of this crush season (beginning August 1), total cottonseed
crushings stand at 1.8 million tons, compared to 2.1 million tons crushed
during the same time frame last year and 1.9 million tons crushed during
the Aug-March time frame in 2004/05…..Cottonseed receipts at oil mills
totaled 3.47 million tons through March compared to 4.23 million tons a
year ago and 3.90 million tons received at mills two years ago…..Stocks
of cottonseed at oil mills were 1.54 million tons on March 31, somewhat
less than the 1.89 million tons of seed at mills at the end of March 2006
and the 1.8 million ton mark of March 2005…..Meal stocks moved higher at
the end of March to 19,408 tons compared to 10,725 tons at the end of
February and 15,478 tons at the end of March 2006.
....Hull stocks were nearly unchanged from the previous month,
ending March at 37,339 tons vs 37,570 tons a month ago and 14,474 tons a
year earlier. Complete details
are available on page three of this Newsletter as well in the Statistics
section of the NCPA web site.
NCPA
MEXICO CONSULTANT REPORTS - Ricardo Silva, NCPA/CCI’s
Consultant to Mexico, reports that during the recent Easter holiday week
in Mexico, the peso weakened slightly against the US dollar.
The value of the peso increased from 11.00 pesos per dollar to
11.15. The movement was likely
due to the Mexican government wanting to slow the flow of pesos out of the
country. Silva notes that at
the moment, the exchange rate is back down to 10.94 pesos per dollar. The
average exchange rate for 2006 was 10.89 pesos/dollar; 10.63 in 2005 and
11.28 in 2004. Abrupt changes
in these values can temporarily affect US exports, he said.
NCPA estimates that US
cottonseed meal shipments into Mexico could reach 90,000 metric tons
during the 2007/08 marketing year. In
addition, Silva says a major feed manufacturer in Colombia may include US
cottonseed meal in their dairy diets…...There is a recent trend by the
dairy industry in Mexico to use goat milk in their products to promote
dairy goat production to low income farmers due to the high fat content of
its milk. Mexico has close to 9 million goats for meat and dairy
production with the Northern Mexico producing about 65% of all the goat
milk and 40% of all the goat meat. Cottonseed meal can be included in goat
rations at about 15% of the ration, according to
a number of nutritionists familiar with the subject. That means,
Silva points out, that there exists a potential market of nearly to 10,000
metric tons annually for US cottonseed meal for goats in Northern
Mexico….Silva also points out in his March report that according to the
Confederacion Algodonera of Mexico (Cotton Federation of Mexico), their
final cotton production forecast for 2006-2007 put production at 648,098
bales, producing an estimated 246,277 metric tons of seed. This was very
close to the initial estimates made by the confederation, he says. For
their 2007/08 estimate released on April 11,
cotton production is forecast at 683,310 bales and seed production
projected to equal 259,657 metric tons.
This estimate is lower than their first estimate of 706,250 bales
of cotton. It is also note worthy that the state of Chihuahua in this new
cycle is producing 54% of all the Mexican cotton production….For
Silva’s complete report, see the Mexico Consultant’s Reports in the
Members Only section of the web page.
WHAT’S NEW @
COTTONSEED.COM - Convention news and updates are available by
following the Convention link on the home page. Of special interest,
NCPA’s RULES COMMITTEE MEETING, set for 10 am Sunday, May 6, has been
canceled as no Proposed Rules Changes were submitted to the committee. To
be considered, proposed changes must be submitted 30 days prior to the
convention. See up-to-date registrants, business session agenda, function
times and places, and more…..Ricardo Silva’s complete report is
available in the Mexico Consultant’s Reports section. The March report
includes the most recent outlook for meal demand in Mexico and Mexican
cotton production forecasts…..The Cottonseed Forums section includes
posts of interested buyers and sellers of cottonseed and cottonseed
products.. For March, posts were made from one buyer looking for sacked
meal, one from a Syrian buyer interested in cottonseed, and two posts from
West African buyers looking for cottonseed and cottonseed oil. In
addition, Syrian cotton linters were offered in a post dated April 14.
MONTHLY
SUMMARY OF US COTTONSEED CRUSHINGS & STOCKS (March 2007)
COTTON
LEADERSHIP CLASS APPLICATIONS SOUGHT - Industry members
interested in applying to or nominating someone for the '07-08 Cotton
Leadership Class -- the 25th since the program's inception -- are
encouraged to visit http://leadership.cotton.org. That site contains
program curriculum, eligibility requirements and a downloadable
application. Applicants or nominators also may contact the National Cotton
Council's Member Services at 901-274-9030 or their local NCC Member
Services representative for additional information. Deadline for
application submission is July 2. The Cotton Leadership Program is geared
to individuals who have the potential and desire to become leaders.
Participants receive training during five week-long sessions across the
Cotton Belt. The class, comprised of four producers and a participant from
each of the other six industry segments, interacts with industry leaders
and visits farms, processing operations and research facilities. They also
meet with lawmakers and government agency representatives during a visit
to Washington, DC, and attend the NCC's annual meeting and its mid-year
board of directors meeting. The program is supported by a grant to The
Cotton Foundation from DuPont Crop Protection.
This year’s current Leadership class participant from the
Cottonseed segment is Brandon Winters, Producers Cooperative Oil Mill,
Oklahoma City, Oklahoma.
ANNUAL
CONVENTION NEWS & NOTES - NCPA’s Rules Committee
Meeting, originally scheduled for 10 am, Sunday, May 6 at the Hilton
Sandestin Beach Resort, has been canceled as no proposed changes to the
NCPA Trading Rules were submitted to the committee for consideration.
Under the Association’s By-Laws, proposed changes to the Rules must be
submitted to the NCPA office 30 days prior to the annual convention for
consideration.
SCHEDULE
OF EVENTS –111th ANNUAL CONVENTION:
Saturday,
May 5
Evening Social & Registration * 6 - 730 pm
Sunday,
May 6
Registration * 9am – 4pm
Old Guard Reunion * 11:30 am
Ladies Luncheon * 11:30 am
Opening Reception * 6 – 7:30 pm
Monday,
May 7
Registration * 8 am – 12 pm
Continental Breakfast * 7:30 am
General Session * 8 am – 11:00 am
Golf Tournament * 12 Noon
Emerald Coast Beach Bash * 6:30 pm
Tuesday,
May 8
2007/08 Board Meeting * 8:00 am
MONDAY,
MAY 7—GENERAL BUSINESS SESSION
* Call to Order /
Invocation
* Welcome—Mayor Craig Barker, Destin, Florida
* Comments from the President—Gary Conkling, Producers Coop Oil Mill,
Oklahoma City, Oklahoma
* Address—John Pucheu, Chairman, National Cotton Council of America
*Presentations:
Robert Reeves, Institute of Shortening & Edible Oils
John Baize, John C. Baize & Associates
Dr. Bill McCutchen, Deputy Assistant Director, Texas Agricultural
Experiment Station
* Comments—Ben Morgan, Executive Vice President
* Reports— Budget & Finance Committee
* Installation of President for 2007/08
* Election of Vice President for 2007/08
* Election of Directors for 2007/08
MOVING?
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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.
April
30, 2007
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