Area producers to be hit by government shutdown

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Updated: 10/02/2013 11:01 am
One of the most important industries in the Panhandle is about to be hit hard with the impacts of the government shutdown. 

Plains Cotton Growers will be affected by the number of agencies which are only keeping a handful of essential employees around, like the Farm Service Agency, which oversees direct payments and farm support payments. 

"The fact that we are just beginning cotton harvest is going to create some real problems if this doesn't get settled pretty soon," Executive Vice President Steve Verett said. "As I mentioned, FSA announced they are suspended all marketing loans. Cotton is a unique commodity in how it is marketed. Thankfully, the market for cotton right now, the price for cotton, is well above the government loan level."

Verett said on top of that, USDA announced it will be sequestering marketing loan rates on cotton by 5.1 percent, something he said will create even more confusion.

To find out more about which government functions are disrupted, click here.
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