PCG EMAIL SERVICES: EVERYTHINGLUBBOCK.COM - Lubbock Crops Bloom As Cotton Prices Wither
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Wed Sep 23 16:33:16 CDT 2015
EVERYTHINGLUBBOCK.COM - Lubbock Crops Bloom As Cotton Prices Wither
By Roxie Bustamante
rbustamante at klbk13.tv
Updated 09/22 2015 06:25PM
Cotton prices drop to a low 60 cents a pound, as cotton farmers prepare for harvest.
David Wied, general manager of New Home Co-op Gin, said the rainy summer helped produce a quality crop this season, but cotton prices have dropped to the lowest producers have seen in months.
"We're in some trying times for the cotton producers, per se," Wied said. "Cheap prices are one of our biggest problems right now."
Plains Cotton Growers, Inc. said Lubbock County is the number one cotton producing county in the country, but low demand and high worldwide supply are the cause for low future prices.
"We're actually growing cotton probably below the cost of production," Wied said, "and in some instances we've shifted to alternate crops."
He said for most cotton producers to break even, cotton should sell for $400 a bale, but prices currently stand at about $300 a bale.
"Cotton on the High Plains of Texas is still King, in my opinion," Wied said, "but we're going to have to have some help on the prices."
Wied said cotton farmers will start harvest in about 10 days.
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