Date
To
All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties
All Risk Management Agency Field Offices
All Other Interested Parties
From
Richard H. Flournoy, Deputy Administrator /s/ Richard H. Flournoy
Subject
2024 Price B for Cotton Quality Adjustment - Update
BACKGROUND:
The Farm Service Agency issued a correction to the 2024 Upland Cotton schedule of loan premiums and discounts. The correction resulted in changes to loan differentials for color, leaf, staple, strength, uniformity, and extraneous matter. As a result, the Risk Management Agency’s published Price B for each state has changed.
ACTION:
Upland Cotton Price B published in PM-24-030 must be disregarded. Approved Insurance Providers (AIPs) must use the applicable Price B for quality adjustment purposes from the attached Upland Cotton Quality tables for the 2024 crop year.
AIPs should reference the 2024 Loss Adjustment Manual, Paragraph 1138 if corrected claims are necessary as a result of the update.
DISPOSAL DATE:
December 31, 2024