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Tue November 23, 2010
Cotton Prices At Record High
By KRWG News
New Mexico – Dona Ana County producers say market prices for cotton are hitting record highs across the country as the southern New Mexico area brings in its harvest.
But that doesn't mean New Mexico farmers are getting those prices for all of their crop.
La Union-area cotton grower Robert Sloan says farmers don't harvest and sell their cotton all at once, as happens with some other crops.
Rather, it's sold at different times throughout the year.
He says that means growers capitalized on the recent market spike if they had any uncommitted cotton.
The price for upland cotton hit a 140-year high on the futures market in the second week of November at $1.51 a pound.
The price has since dropped, but it's still high by industry standards.
Information from: Las Cruces Sun-News, http://www.lcsun-news.com
Copyright 2010 The Associated Press.