As 2016 draws to a close, some cotton growers in the southwest are still bringing in this year’s crop with stronger prices than when the year started.
“Futures market started in the low to mid 60’s, and by the time we reached the end of this year, we were trading in the upper 60’s, sometimes in the low 70’s,” said Gary Adams, president and CEO of the National Cotton Council.
Adams said for now, China is no longer the big buyer of U.S. cotton. Imports are sagging as the government is chewing through abundant stocks.
According to a report in agrimoney.com, total Chinese cotton imports are down 42 percent from last year.
Despite the decline in imports of U.S. cotton, Adams said China is still important.