A Loan Scdedule Based on Texas and Oklahoma Producer Market Premiums and Discounts
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This analysis examines the extent to which inaccuracies in the Daily Spot Cotton Quotations (DSCQ) have caused the CCC loan schedule to misrepresent the Texas and Oklahoma producer cotton market premiums and discounts. The general pattern that emerges is that the CCC loan schedule substantially over discounts qualities of cotton below base quality (color grade 41, leaf 4, staple 34, micronaire 3.5-4.9, and strength 24 & 25 grams/tex.). The CCC loan understates premiums above base quality somewhat.