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
Cheaper freight is helping exports move, especially corn, but weaker soybean demand looms large.
American Farm Bureau Federation (AFBF) economist Danny Munch explains how the Emergency Livestock Relief Program application process differs from other USDA aid programs.
The Fertilizer Research Act, reintroduced by Sens. Grassley, Ernst, and Baldwin, would direct the USDA to study and publish public reports on competition and pricing trends in the fertilizer market.
Producers may need to prepare for margin pressure in livestock feeding, while dairy farmers could benefit from stronger product demand.
U.S. Secretary of Agriculture Brooke L. Rollins today issued a new memorandum to modernize and strengthen America’s wildfire prevention and response system.
