Rare high cotton prices amid intense drought in Texas
4/18/2022 12:33:41 PM
CATEGORIES:
Agriculture
AFFECTED AREAS:
Armstrong County, TX
Bailey County, TX
Borden County, TX
Briscoe County, TX
Carson County, TX
Castro County, TX
Cochran County, TX
Collingsworth County, TX
Crosby County, TX
Dallam County, TX
Dawson County, TX
Deaf Smith County, TX
Donley County, TX
Floyd County, TX
Gaines County, TX
Garza County, TX
Gray County, TX
Hale County, TX
Hall County, TX
Hansford County, TX
Hartley County, TX
Hemphill County, TX
Hockley County, TX
Hutchinson County, TX
Lamb County, TX
Lipscomb County, TX
Lubbock County, TX
Lynn County, TX
Mitchell County, TX
Moore County, TX
Ochiltree County, TX
Oldham County, TX
Parmer County, TX
Potter County, TX
Randall County, TX
Roberts County, TX
Scurry County, TX
Sherman County, TX
Swisher County, TX
Terry County, TX
Wheeler County, TX
Yoakum County, TX
Start Date: 4/17/2022
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Cotton futures are at rare high prices due to historic drought gripping parts of Texas with prices over $140 for May cotton.
Prospects for the Texas cotton crop are bleak, given the intensity of the dryness and lack of subsoil moisture. Cotton may be planted, but without rain in the next month, the cotton is not likely to grow. Abandonment rates may be high.
India has opened imports to cotton with no import duty given the high prices, which has moved the market higher.
AgWeb (Mexico, Mo.), April 17, 2022
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