The 2013 Program
While you are attending the Cotton Institute, you will participate in an eight week residential program designed for people entering the cotton industry as well as for those who want to expand their knowledge of the trade.
As a future leader of the industry, you are introduced to all phases of cotton production and marketing, including:
- An overview of the history, economics, standards, and trends of the production regions of the world.
- The position of the cotton industry itself in a global economy.
- The harvesting, processing, and utilization efficiencies in use throughout the world.
- The manufacturing process, including fiber types and properties in their end use, and fiber conversion costs.
- The purchase of cotton, including typical trade terms and conditions in the various markets of the world.
- The movement of cotton from the field to the textile mill, including the world transportation infrastructure, delivery problems, tariffs, inspection services, insurance claims, and payment procedures.
- The appropriate use of various risk management tools available to producers, merchants, and spinners; forward contracts, futures and options contracts; explanation of minimum price and maximum price contracts utilizing options.
- The fundamentals of futures and options trading, including the daily management of simulated cash and futures positions.
- International trading rules, organizations, arbitration procedures, the settlement of claims, and the enforcement of awards and claims.
- The basic considerations of doing business in a trans-cultural environment and the ethical implications of contracts, contract law, and the importance of contract sanctity in the world trade of cotton.
- Electronic trading platforms
The course of study and training in the classification of cotton includes:
- The visual process of learning the various grades of cotton encompassed by the Universal Standards as approved by the signatories to the Universal Standards Conference.
- The visual and mechanical process of manual classification pursuant to the Universal Standards.
- Familiarization with the use of High Volume Instrument (HVI) machines and micronaire machines.
- The physiology of cotton, the importance of fiber properties and characteristics for end use by spinners, and the market valuation of those fiber properties.
Field trips are an integral part of the Institute program and provide the opportunity for valuable on-site instruction. Locations include a cotton farm, a gin, warehouse, textile facility, global merchants, cotton cooperatives, and the USDA Cotton Division Headquarters office and classing facility.
Successful completion of the Cotton Institute is based on passing the requirements as well as participating fully in all aspects of the program, including field trips and all extra-curricular activities planned by the Institute. Participant performance is evaluated throughout the program. The Institute reserves the right to deny certification to any student who does not meet these requirements.