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Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.
I was doing some research on how high cotton prices have gotten in the last month or so. Recently, the Wall Street Journal had an article stating that cotton prices were now the highest since the Civil War. However, if you take inflation into account, prices are actually still very much lower than what they would have been 20 or 30 years ago at their high.
I did come across a post by the National Cotton Council regarding an article in the Washington Post labeled "Cotton Candy" (you may need to register to get access to the article). The Post article described a lavish payout that was actually for relief for cotton farmers in 2009 that were unable to harvest a normal crop.
Also, the Post article indicated that the America controls 80% of the worlds cotton market. The Council indicated that we only 16 percent of the overall crop and about 3% of the mil use.
There sometimes can be some very biased articles out there on our farmers and it is nice to see our trade organizations standing up for us.
For a copy of the National Cotton Council response, click here.
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