Cotton prices may see an uptick this year as American farmers plan to plant significantly fewer acres of the crop, according to an agriculture market expert.
Jamie Wilkerson from RCM Ag Services explained to agricultural reporters that new survey findings from the National Cotton Council indicate growers intend to reduce their cotton plantings by more than three percent from the previous year’s totals.
“There’s an assumption we’ll have less than nine million acres of upland cotton planted this season,” Wilkerson stated, referencing the survey results that track farmer planting intentions nationwide.
The reduction in planted acreage typically creates supply constraints that can push commodity prices higher, benefiting producers who do choose to grow cotton while potentially affecting downstream industries that rely on the fiber.
