July 20, 2010

Dear AQCA member,

            With less than 1500 bales of our 2009 inventory left to apply to sales, we are well ahead of schedule in closing out the marketing activity on the 2009 crop.  As a result, we will be able to begin the audit process soon which in turn should expedite our final settlement determination.

            Preliminary calculations confirm both the seasonal and aggressive pools have accumulated equity yet to be dispersed.  Rather than waiting several weeks for the final number to be determined, I have encouraged our marketing team to advance at least a portion of the remaining equity at this time.  We hope this will help ease cash flow constraints often associated with this time of year.

            I am pleased to announce a July progress payment of one cent per pound for each pool will be issued next week.

The total price received thus far by an AQCA member for an average grade bale expressed in Rule 5 terms is:

Aggressive Pool       77 cent/pound

Seasonal Pool          69 cent/pound

 In addition, be assured all measures will be taken to complete the audit in a timely manner so our final payment on the 2009 crop can be made at the earliest possible date.  

Sincerely,

Jeff Thompson

Executive Vice President