October 9, 2023
Mike Pearson says the United Nations declared World Cotton Day Oct. 7.
He reminds us just how much cotton is produced across the globe and here in the United States.
Humans have been using cotton for 7,000 years now to make clothing and cloth.
Every years, there are 25 million tons of raw cotton in fields and 110 million bales.
In fact, 75 percent of the world cotton comes from these countries:
6. 6 million tons produced in China
5.6 million tons produced in India
3.6 million tons in the USA
and 3 million tons in Brazil.
There are 18,000 cotton farmers in the United States and 17 states grow cotton. Texas leads the way with 7.7 million bales grown in 2021. However, the drought from La Nina made a bleak 2022 with only 2.9 million bales grown. This tripled the price of 2021 cotton.
However, this year is not living up to those numbers. Prices have flattened with farmers only getting $150 per 100 weight.
The USDA is expected to put out a new report Thursday and investors are waiting to see how much the production estimate is down from the August report which already down graded production.
The cotton shrink isn't just in the USA this year, it's expected across the globe this year.
Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness.
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