Updates and Reports

This morning guest heard numerous reports and updates from several leaders in the cotton industry. It began with a warm welcome from Kevin Givens, the commissioner for the Tennessee Department of Agriculture, followed by an official Cotton Council Report from John Pucheu, Chairmen of the National Cotton Council. In Pucheu's report, he reviewed the current US position in cotton world market. He discussed enhancing US cotton's image in the market and how this can be achieved through sustainability in all meanings of the word. The Chairman also affirmed the Council's longstanding commitment to research, education and technology transfer.

Guests then heard a report from Cotton Incorporated given by Berry Worsham, President and Chief Executive Officer of the company. Worsham stated that in 2007 sustainability was a primary focus as well for Cotton Incorporated. He went on to say that "sustainability doesn't just stop at the farm," but rather continues in all sectors of the cotton industry. The CEO also mentioned several focus areas of the company which include improving farm profitability, enhancing cottons' global presence, enhancing environmental research to the consumer, meeting challenges that face cotton and continuing to connect with the US consumer. Worsham also introduced a new DVD that features the new eco-friendly processes of the company.

Following Worsham's report came a Washington update from John Maguire. Maguir is the Senior Vice President of Washington Operations for the National Cotton Council. In his update, Maguire made reference to the constant criticism of the cotton program under the current Farm Bill and that many call for a reform. He mentions several remarks made by critics erroneously stating that the program stimulates over production, fails to adjust to new market values, is too expensive and is out of balance with other commodities. Maguire follows this by showing evidence that negates those comments and states that the program should remain as is and not reformed for the new Farm Bill. Maguire then goes on to briefly explain the legislative processes that have taken place in the House and the Senate regarding the cotton program. He wraps up his update by explaining several opportunities and challeges facing the cotton industry in the future such as the value of the US dollar, cotton's impact on world markets, the US economy, and the implementation of the New Farm Law.

Next, Dr. Gary Adams gave an update from and economic standpoint. Dr. Adam's is the Vice President of Economics and Policy Analysis for the National Cotton Council. He began with a recap of the cotton movement in the last three years. He then explained the breakdown of cotton production markets. In Dr. Adam's breakdown, he mentioned that China and India together accounted for more than 50% of the world market cotton production. That is a lot! Then he commented the change in the 2007 cotton area and that the US declined in 29% of its cotton acres last year. Dr. Adam's made mention of some noticeable changes in the world cotton economy. One change is that India is emerging as a large exporter and that its production has more than doubled from 2002 to 2007. Adams told guests to be on the lookout for the USDA's Winter Week Seeding's Report this friday.

The session ended with a discussion on variety improvment given by Dr. Kater Hake, the Vice President for Agriculture Research at Cotton Incorporated. Dr. Hake began his discussion by mentioning some major initiatives for Cotton Incorporated such as sustainability, resistance management, economics, farm profitability, innovative machinery, and precion cotton. He stated the the company is rethinking variety improvement and that it is a critical concept in longterm decision making. He goes on to explain the regulatory approval process for traits. Dr. Hake concludes his discussion the process of fiber quality into yarn quality. I am sure I speak for everyone in attendance when I say that hearing those updates and reports allowed so much valuable information to be gathered in such a small amount of time!