STAX Enrollment: 2015 vs 2016

In this week’s Georgia Cotton Commission report we want to give a brief update about crop insurance numbers. This year’s cotton insurance price is set at $0.73 per pound per the formula used by RMA which looks at the futures price of the December cotton contract from mid-January to mid-February. RMA has a neat online Price Discovery Tool that can help growers find the correct insurance price for their various commodities. In 2015, 92% of all cotton acres in Georgia had some type of crop insurance coverage with 40% of all cotton acres enrolled in STAX. In 2016, 96% of all cotton planted in Georgia had some type of crop insurance coverage with STAX coverage on 37% of the planted acres. This increase in the amount of insurance bought in 2016 versus 2015 and a decrease in the amount of STAX acres enrolled in Georgia mirrors national data. All cotton crop insurance nationally in 2015 was 91% and jumped to 93% in 2016 while STAX acres decrease from 31% nationally in 2015 to 25% in 2016. See chart below.

Click here for a chart of all 2015 data from last year’s blog.

  2015 2016
GA All Cotton Insurance 92% 96%
GA STAX 40% 37%
US All Cotton Insurance 91% 93%
US STAX 31% 25%

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