U.S. cotton planting is forecast to rise 7.6 percent to 11.2 million acres this year, according to Bloomberg Businessweek. If realized, this will be the first gain in three years.
Last year—after land, labor and growing costs—Texas farmers earned about $105 an acre from fiber and $32 on corn. The profit gap is expected to encourage increased cotton supplies from the Lone Star State, said Texas A&M AgriLife Extension Risk Management Specialist Jay Yates.
Based on a survey of growers, the National Cotton Council will release its first planting estimate of the season on Feb. 8. The U.S. Department of Agriculture’s (USDA) next forecast will be released Feb. 20, covering planting seasons that run from March through July.