Economist on Cotton Prices: “They’re Definitely Not Profitable”

Making Changes Acreage 040920

The U.S. Department of Agriculture (USDA) says in its Prospective Plantings Planting Survey cotton acres may tally 13.8 million acres, down 2 percent from last year.

Industry leaders expect those acres to switch, potentially to peanuts.

It’s because the last time cotton prices were in the 40 to 50 cents per pound range was in late 2008, early 2009, during the start of the last recession.

Betsy Jibben has the story.