January 10, 2001
Contact:
Marjory Walker
(901) 274-9030
The National Cotton Council (NCC) announced today its Cotton Risk Management Network (CRMN) II will be available Friday, January 12. CRMN is an Internet-based tool aimed at helping industry members with their risk management.
Demonstrations of CRMN II will be held at the 2001 Beltwide Cotton Conferences Friday, Jan. 12 from 1-2:30 p.m. in the Hilton’s El Capitan Room (4th floor).
The upgraded, user-friendly CRMN II requires no software installation or daily downloads. All that is needed is access to the members only area of NCC’s web site.
CRMN II, supported by Syngenta’s grant to The Cotton Foundation, provides NCC members with one-stop delivery of complete range of market data, news and analytical tools necessary to compete in today’s agricultural marketing environment. Data are updated continuously and, with this new web delivery, forthcoming additional components such as farm management tools and market wizards can be introduced without any inconvenience to users.
"In today’s cotton market, managing risk requires monitoring price movement and staying aware of marketing loan benefits," said Dr. Mark Lange, director of NCC’s Economic Services. "With that in mind, we used the most advanced technologies available to develop the Cotton Risk Management Network and address the risk management needs of our members."
Some of the specific features available on CRMN II, which is an upgrade of the 1997-released CRMN, are:
- Futures market activity for all contracts of cotton, corn, soybeans and wheat;
- Trading contracts for the past five years;
- Contract charting capability;
- Market news and activity, including spot prices for various markets and weekly mill delivered prices;
- World price data, including the "A" and "B" indexes and the growths included in each, the adjusted world price, the loan rate, certificate values, coarse count adjustment and the transportation adjustment;
- A price model with a current benchmark world cotton price and variables which historically have explained 95 percent of cotton price behavior to help in producing a season-average world cotton price forecast;
- Historic relationships between the world price and other price series, such as New York futures, for use in making comparisons of price behavior;
- Information about the cost of "put" and "call" options on the New York Cotton Exchange;
- A marketing events calendar.
Related News
NCC: Stimulus Measure Critically Needed Now The U.S. cotton industry commends Congress and the Administration for reaching agreement today on a broad-based economic relief/stimulus package for individuals and businesses, including the agriculture sector. NCC Welcomes Senate Ag Panel’s Timely Action The NCC appreciates the work of the Senate Agriculture, Nutrition & Forestry Committee for producing a farm bill that includes provisions supported by the cotton industry. Textile Mills Economic Assistance Clears Hurdle USDA made available the User Agreement for textile mills participating in the Economic Adjustment Assistance Program authorized by the Food, Conservation, and Energy Act of 2008.
News Release Archives |