Page images
PDF
EPUB

SPOTTED

GM..

- 455

-400

-345 -355

- 275

-40

-155 - 170

- 135 -150

-100 -115

-90 -105

-340

- 410

-215

SM..
MID.
SLM.
LM..

(13) (23) (33) (43) (53)

495 -500 350 650 770

-110 - 125 245 -395 345

510 -610 735

-690 -810

-560 -695

-475 -605

-430 -575

-405 -355

-395 -550

-395 545

660

[ocr errors]

-395 345

[merged small][merged small][merged small][ocr errors][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small]

50-021-71-16

(14)

-680

490
505

490
505

GM.
SM.
MID
SLM.
LM.

-635
650
705
805
925

(34)

-605
615
-675
-770
-890

-745
845
960

-570
580
640
-730
855

-495
505
565
655

-345
-560
-610
-705
-835

-520
-535
-590

675
-810

-505
-515
-570
665
795

-655

(54)

-775

GM.
SM..
MID

-680

(15)
(25)
(35)

-845

-855
-910

-800
-810
-870

-745
- 755
-810

725
735

-690
-700
-755

- 715
765

-680
-690
-745

-680

-690
-745

-690

-680
690
745

-680
-690
-745

-680
-690
- 745

-680

090
-743

-845

-745

(17)

GM.
SM.
MID.
SLM

(27)
(37)
(47)

-515
-575

720
-835

-480
-345
-695
-815

-440
505
660
-785

-385
-455
-610
-735

-320
-390
-560

-240
- 315

505
-655

-140
-240

440
-615

-60
-175
-405
-580

-30
- 155
--390
-575

-385 -570

-570

Grade Symbols: GM--Good Middling; SM-Strict Middling; MID-Middling; SLM-Strict Low Middling; LM-Low Middling; SGO--Strict Good Ordinary; G0–Good Ordinary.

1 Grade and staple codes. Staple below 1316 is coded 24 and is not eligible for loan, Any grade code starting with an 8 is "below grade" and is not eligible for loan.

§ 1427.1524 Schedule of premiums and discounts for micronaire readings on 1970 crop upland cotton. Micronaire reading

Points per pound 5.3 and above

Discount of 130, 5.0 through 5.2.

Discount of 30. 3.5 through 4.9.

Premium of 45. 3.3 through 3.4.

Discount of 40. 3.0 through 3.2.

Discount of 135. 2.7 through 2.9.

Discount of 250. 2.6 and less.

Discount of 390. § 1427.1525 Schedule of loan rates for eligible qualities for 1970 crop extra long staple cotton by warehouse location.

(In cents per pound, net weight)

[blocks in formation]

Subpart-Upland Cotton Price Sup

port and Diversion Program Regulations, 1966 and Subsequent Years AUTHORITY: This subpart issued under secs. 4 and 5, 62 Stat. 1070, as amended, secs. 101, 103(d), 401, 63 Stat. 1051, as amended; 15 U.S.C. 714 b and c; 7 U.S.C. 1441, 1444(d), 1421.

SOURCE: The provisions of this subpart appear at 31 F.R. 6861, May 10, 1966, unless otherwise noted. § 1427.2101 Purpose.

The regulations in this subpart provide for price support and diversion payments earned under the upland cotton diversion and price support payment program regulations for 1966 and subsequent years (Part 722 of Chapter VII of this Title 7) to be made by actual or constructive delivery of negotiable certificates by Commodity Credit Corporation (hereinafter called “CCC") to producers and for the making of cash advances by CCC to producers who wish CCC's assistance in the marketing of

certificates earned by them.

The regulations in this subpart also provide the methods by which CCC will redeem certificates and market certificates for which its assistance in marketing has been requested. § 1427.2102 Issuance of certificates.

The county committee will issue to each producer who is entitled to a payment under the upland cotton diversion and price support payment program regulations for 1966 and subsequent years a cotton payment-in-kind certificate (Form CCC-861) (hereinafter called “certificate") for the amount of such payment, except where the producer requests CCC's assistance in marketing his certificate at the time of applying for payment, subject to the following terms and conditions:

(a) Terms. Any certificate issued shall be subject to the provisions embodied in it and the provisions of this subpart.

(b) Payee. Each certificate will be issued only to the producer who is entitled to the payment or to his assignee

1 he has assigned his right to payment any payee who requests CCC's assistance in accordance with the upland cotton in marketing a certificate earned by him diversion and price support program under this subpart. Only the payee shall regulations for 1966 and subsequent have this option. Il such request 18 made years.

at the time the payee applies for pay(c) Face value. The face value of ment, constructive delivery of the certifeach certificate, which will be shown on cate to the payee will be made by makthe certificate, will be the amount de- ing the cash advance and crediting a termined to be payable to the payee. certificate pool with the value of the

(d) Date of issuance. The date of 18- certincate earned by him. A payee who suance shown on each certificate shall be does not request CCC's assistance in the date the certificate is issued. Substi- marketing his certificate at such time tute certificates issued to replace original may subsequently request CCC's assistcertificates never received by the payee ance in marketing the certificate by deshall bear a current date of 1ssuance. Uvering it to the county committee for Substitute certificates issued to replace marketing. Such certificate shall also other original certificates shall bear the be credited to a certificate pool. A cash same date of issuance as the certificate advance to a payee shall be made in the being replaced.

form of a CCC sight draft for the face (e) Signature and counter signature. value of the certificate. To be valid, each certificate must be

§ 1427.2105 Marketing of certificates. signed and countersigned by authorized representatives of CCC.

All certificates for which payees have (1) Transfer. The certificate may be requested CCC's assistance in marketing transferred to any person or firm, in

and received cash advances shall be which case the certificate must be en- pooled by CCC and shall lose their idendorsed by the named payee and by the

tity as individual certificates. The holder who presents it to CCC.

amount of the certificate pool shall be (g) Expiration date. The certificate

the total of the value of the certificates shall expire three years after date of

of which CCC has made constructive issuance and thereafter will not be re

delivery to the payees and the value of deemable by CCC.

the certificates presented to the county

offices by the payees for marketing by 1427.2103 Redemption of certificates.

CCC. Such amount shall be equal to the Certificates shall be redeemable in amount of cash advances. CCC shall cotton upon terms and conditions estab- market the rights represented by pooled Ished by the Executive Vice President, certificates upon terms and conditions CCC, by submitting an application to the established by the Executive Vice PresiNew Orleans ASCS Commodity Office, dent, CCC, at such times and in such 120 Marais Street, New Orleans, La. II manner as CCC determines will best efthe full amount of the face value of a fectuate the purposes of the program. certificate tendered by the payee or a

8 1427.2106 Administration. subsequent holder for redemption in cotton is not fully redeemed in cotton, a

This subpart will be administered by balance certificate shall be issued to the

the Agricultural Stabilization and Concertificate holder for the unused amount.

servation Service under the general diIf the amount is $3.00 or less, no balance

rection and supervision of the Executive certificate will 1s Issued unless requested.

Vice President, CCC, and in the field will The date of the balance certificate shall

be carried out by Agricultural Stabilizabe the date of issuance of the original

tion and Conservation State committees certificate. Balance certificates may be

and Agricultural Stabilization and Contendered to CCC for redemption in cotton

servation county committees (herein

called State and county committees), In the same manner as the original certificates. Balance certificates issued to

and the New Orleans ASCS Commodity the payee shown on the original certif

Office. State and county offices, State

and county committees, the New Orleans cate may be surrendered by the payee

ASCS Commodity Office, and employees to CCC for marketing.

thereof do not have authority to modify 8 1427.2104 Cash advance.

or walve any the provisions of this subA cash advance shall be made by the part or any amendments or supplements county committee on behalf of CCC to to this subpart.

Subpart-Regulations Governing Re

demption of Cotton Payment-inKind Certificates Earned Under Food and Agriculture Act of 1965 and Liquidation of Certificate Pools AUTHORITY: The provisions of this subpart issued under secs. 4 and 5, 62 Stat. 1070, as amended, sec. 402; 15 U.S.C. 714 b and c.

SOURCE: The provisions of this subpart appear at 31 F.R. 3284, Mar. 2, 1966, unless otherwise noted. § 1427.2250 General statement.

The regulations in this subpart provide the methods by which Commodity Credit Corporation (referred to in this subpart as “CCC”) will (a) redeem payment-in-kind certificates (referred to in this subpart as "certificates") earned under section 402 of the Food and Agriculture Act of 1965 for cotton from its stocks and (b) market, from time to time, the rights represented by all such certificates for which the payees or subsequent holders have requested CCC's assistance in marketing and which have been pooled by CCC. CCC will issue, from time to time, a catalog of the cotton which may be acquired under this subpart. Cotton will be available under the terms and conditions contained in this subpart and in Announcement NO-C-31 as such other announcements as may be issued by CCC which provide for the acceptance of certificates or the marketing of rights. Copies of such announcements and other information desired will be furnished upon a written request to the New Orleans ASCS Commodity Office, 120 Marais Street, New Orleans, La., 70112 (referred to in this subpart as the "New Orleans office"). § 1427.2251 Redemption of certificates.

Certificates will be redeemable in upland cotton (referred to in this subpart as “cotton") by submitting applications (referred to in this subpart as "offers") to the New Orleans ofice in accordance with the applicable announcement. Offers may be submitted by the payees or subsequent holders of the certificates. § 1427.2252 Marketing of pooled cer

tificates. The rights represented by certificates which have been pooled by CCC in assisting the payees or subsequent holders in the marketing of such certificates will be marketed from time to time as an

nounced by CCC or as provided Ir $ 1427.2255 for immediate use by the purchaser to obtain delivery of cotton from CCC in liquidation of such rights. Such rights may be acquired by submission o1 offers to the New Orleans office in accord. ance with the applicable announcement § 1427.2253 Acceptance of offers.

Offers will be accepted at the highest price offered for the cotton but in na event less than the minimum acceptable price determined by CCC. § 1427.2254 Delivery of Cotton.

If an offer is accepted in whole or in part by the New Orleans office in accord. ance with the applicable announcement, it will make delivery of the cotton as to which it has accepted the offer by deUvery of the warehouse receipts representing such cotton to the offeror (hereinafter referred to as "the purchaser") in accordance with the applicable announcement. § 1427.2255 Invoicing and settlement.

Cotton delivered under this subpart shall be provisionally invoiced and its settlement value determined as prescribed in the applicable announcement.

(a) If the provisional invoice value of the cotton delivered by CCC in redemption of certificates exceeds the face value of the certificates to be surrendered, certificate rights suficient to cover such excess value shall be acquired by the purchaser from the certificate pool. Payment shall be made as provided in the applicable announcement for the certificate rights so acquired upon presentation of the invoice.

(b) If the provisional invoice value of the cotton delivered by CCC in redemption of certificates is smaller than the value of the certificates, CCC will issue a balance certificate for the unused amount. If the amount is $3 or less, no balance certificate will be issued unless requested. The date of the balance certificate shall be the date of issuance of the original certificate Balance certifi. cates may be tendered to CCC for redemption in cotton in the same manner as the original certificates. Balance certificates may be surrendered to CCC for marketing.

(c) If the value of the certificates surrendered is less than their face value, certificate rights sufficient to cover such difference in value shall be acquired by

U.8. Department of Agriculture, Agricultural

Stabilization and Conservation Service, ASCS Commodity Office, 6400 France Avenue South, Minneapolis, Minn, 66435.

(b) (1) CCC will consider offers of butter, cheddar cheese, and nonfat dry milk in bulk containers meeting specifications in the announcements at the following prices:

Price per pound

Commodity and location

the purchaser from the certificate pool and payment shall be made, as provided in the applicable announcement, by the purchaser to CCC for such certificate rights unless such difference has been accounted for in a balance certificate 18sued to the purchaser.

(d) If on final settlement the value of the cotton delivered by CCC in redemption of certificates or in liquidation of rights (less any cotton rejected) is redetermined as being in excess of the provisional invoice value of the cotton delivered by CCC, certificate rights sufficient to cover such excess value shall be acquired by the purchaser from the certificate pool. Payment shall be made in cash for the certificate rights so acquired. II the value of the cotton delivered by CCC (less any cotton rejected) is redetermined as being less than the provisional invoice value of the cotton delivered by CCC, such difference will be paid in cash to the person to whom the cotton was delivered and the pool shall be credited with an equal amount.

[blocks in formation]

Butter
U.$. Grade A or higher:
New York, N.Y., Jersey

City, and Newark, N.J...
Seattle, Wash., and San

Francisco, Calif., Alaska,

Hawaii, California..
Arizona, New Mexico,

Texas, Louisiana, Mig-
sissippi, Alabama,
Georgia, Florida, South

Carolina...
U.S. Grade B 2 cents less

than U.S. Grade A. Cheddar cheese (standard

moisture basis, 37.8-39.0%)... Nonfat dry milk, spray process

50-pound bags with sealed closures ?.

[blocks in formation]

PART 1430-DAIRY PRODUCTS Subpart-Milk and Butterfat Price

Support Program & 1430.282 Price support program for

milk and butterfat. (a) (1) The general levels of prices to producers for milk and butterfat will be supported from April 1, 1970, through March 31, 1971, at $4.66 per hundredweight for manufacturing milk and 71.5 cents per pound for butterfat.

(2) Price support for milk and butterfat will be through purchases by CCC of butter, nonfat dry milk, and cheddar cheese, offered subject to the terms and conditions of purchase announcements issued by the Agricultural Stabilization and Conservation Service, U.S. Department of Agriculture.

(3) Commodity Credit Corporation may, by special announcements, offer to purchase other dairy products to support the price of milk and butterfat.

(4) Purchase announcements setting forth terms and conditions of purchase may be obtained upon request from: US. Department of Agriculture, Agricultural Stabilization and Conservation Service, Livestock and Dairy Division, Washington, D.C, 20250.

1 For cheese which is offered on a "dry" basis (less than 37.8 percent moisture) the price per pound shall be as indicated in Form ABC8-150. Copies are available In offices listed in (a) (4).

2 Il upon Inspection the bags do not fully comply with specifications for sealed closures, the price paid will be subject to a discount of 0.25 (14) cent per pound of nonlat dry milk.

(2) Offers to sell butter at any location not specifically provided for in this section will be considered at the price set forth in this section for the designated market (New York, San Francisco, or Seattle) named by the Seller, less 80 percent of the lowest published domestic railroad carlot freight rate per pound, applicable to carlots of 60,000 pounds, gross weight, in effect when the offer is accepted from such location to such designated market. In the area consisting of Pennsylvania, New Jersey, New York, Connecticut, Rhode Island, Massachusetts, Vermont, New Hampshire, and Maine, CCC will purchase only butter produced in that area; butter produced in other areas is ineligible for offering to CCC in these States.

(c) The butter shall be U.S. Grade B or higher. The nonfat dry milk shall be U.S. Extra Grade, except moisture content shall not exceed 3.5 percent. The

or

« PreviousContinue »