As cotton prices soar, China - not Texas - at center of it all
November 9, 2010
Dallas Morning News - In a normal year – when cotton sells for 50 cents to 80 cents a pound – Texas Tech University economists say the state's growers sell about $2.1 billion of cotton. Many farmers sold their crops earlier this year and won't see the windfall from soaring prices. But next year's crop could offer growers a bounty like they've never seen.
The price of cotton has reached the highest levels since the market disruptions of the Civil War.
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In a normal year – when cotton sells for 50 cents to 80 cents a pound – Texas Tech University economists say the state's growers sell about $2.1 billion of cotton. Many farmers sold their crops earlier this year and won't see the windfall from soaring prices. But next year's crop could offer growers a bounty like they've never seen.