The cotton industry is recovering faster than expected
U.S. cotton producers intend to plant 11.5 million acres in 2021, down more than 5 percent from the previous year. That is according to the National Cotton Council’s 40th annual “Early Season Planting Intentions Survey.”
Vice President of Economics and Policy Analysis, Dr. Jody Campiche speaks with RFD-TV’s own Tammi Arender on the survey and what contributed to the decline.
“Kind of what we’re seeing with the U.S. cotton industry and the world cotton industry is we are seeing a recovery in demand. Of course, we had a significant loss in demand in the first and second quarter of last year, but it’s actually recovered faster than expected,” Dr. Campiche states. “We’re on a good path moving forward. We do expect acreage to be down a bit this year even though cotton prices are up, because what we’re seeing is a lot of strength in competing commodity prices.”