This month’s WASDE Report offered little support to cotton growers who were already having a rough year. The Farm Bureau says the hits keep coming.
“There was an increase in estimated production numbers and a decline in exports and consumption, which caused ending stocks to increase by about nine percent. Basically, production has bounced back this year in cotton, largely due to better-growing conditions in Texas, but demand has fallen over last year. This has led to a nearly 15 percent decrease in price since last year,” said Betty Resnick.
Since the 2018 Farm Bill, cotton growers have seen their production costs go up by nearly 30 percent. Analysts say this year’s input costs likely will not provide much support.
Related Stories
Export Inspections In Bushels Show Mixed Momentum Patterns
Lewis Williamson with HTS Commodities joined RFD-TV’s Market Day Report to share insight into what’s happening on the ground and in the markets.
“USDA can no longer keep wasting its time and personnel to deploy Commissioner Miller’s infamous traps, which USDA has deployed, tested, and has proven ineffective.”
New U.S. fees on Chinese-owned and built ships took effect overnight, marking the latest escalation in maritime trade tensions between Washington and Beijing.
“Good flies? Is that like a good fire ant?” Miller said. “I don’t know what a good fly is. I don’t know if they’re afraid to kill house flies or stable flies, but I’m ready to kill the screwworm fly.”
The American Farm Bureau Federation (AFBF) is urging Congress and the Trump Administration to act quickly on behalf of American agriculture.
