For Mississippi farmers cotton is king once again as they are going to increase their cotton acreage this year, about 25 percent over last year. Last year, they increased about 25 percent over the previous year. In total over the past two years they have increased almost 50 percent, said cotton producer.
Cotton acres could surge in not only Mississippi, but across the majority of cotton country as the USDAâ€™s Prospective Planting report will give the industry a starting point on acreage for the spring planting season, and cotton is looking to win back farmers in 2017. Early estimates are predicting up to 1 million acres.
Gary Adams, president and CEO of the National Cotton Council (NCC) said that when they did survey and looked across the regions, the biggest number of actual acres will be in Texas because theyâ€™re working off such a large base.
Based on the survey, they are going to see big percentage increases in Kansas and Oklahoma, and pima cotton in California.
NCCâ€™s planting intentions survey showed a 9.4 percent jump in overall cotton acres this year, but a recent USDA projection pointed to a 12 percent increase.
Their survey period was between December 15 and January 15 when prices were around 70 cents a pound, said Jody Campiche, vice president of economics with the NCC. Once the USDA report came out, prices were about 75 cents a pound. They definitely expect more acres than shown in their report.
Better prices are also invigorated by an improved export picture this year.
They are seeing some strong demand for U.S. cotton right now, said Adams. The export pace is good. Vietnam is in the market, Chinaâ€™s in the market.
Adams said that if farmers see record yields again this year, that could create a different price picture moving forward, this price will encourage planting cotton. However, to bring cotton gins back on line, it will take a couple of more years.
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