A Resilient Industry
Tim Price
Memphis, Tenn.
I'll be the first to admit that there were significant cotton acreage decreases in the Mid-South. And the increase in corn and soybean acres was something to behold. But I am also seeing other things at work in the market that encourage me.
As an industry, we know that cotton has had its ups and downs, and we've seen our share of volatility with acreage shifts. However, the cotton industry has a steady and exemplary history of both practical and strategic research and promotion. This research spans private industry, land grant universities, USDA and the unique success of Cotton Incorporated. Even when we were producing 21 or 22 million bales each year, our industry was preparing for change because we knew we wouldn't harvest big crops every year.
A critical element in cotton's future is the necessity of good marketing practices. We must take better advantage of multi-year, forward marketing plans, including both lint and cottonseed.
We've done a good job of understanding the quality of cotton lint demanded globally. But we need to better understand how to maximize the total value from an acre of cotton, including the value of cottonseed and byproducts.
source : cottonfarming
Tim Price
Memphis, Tenn.
I'll be the first to admit that there were significant cotton acreage decreases in the Mid-South. And the increase in corn and soybean acres was something to behold. But I am also seeing other things at work in the market that encourage me.
As an industry, we know that cotton has had its ups and downs, and we've seen our share of volatility with acreage shifts. However, the cotton industry has a steady and exemplary history of both practical and strategic research and promotion. This research spans private industry, land grant universities, USDA and the unique success of Cotton Incorporated. Even when we were producing 21 or 22 million bales each year, our industry was preparing for change because we knew we wouldn't harvest big crops every year.
A critical element in cotton's future is the necessity of good marketing practices. We must take better advantage of multi-year, forward marketing plans, including both lint and cottonseed.
We've done a good job of understanding the quality of cotton lint demanded globally. But we need to better understand how to maximize the total value from an acre of cotton, including the value of cottonseed and byproducts.
source : cottonfarming
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