Cotton Abandonment Evident as Harvest Nears Close
It’s the changing of the seasons and a change of focus for our region’s farmers. Before we can move too far past 2023, we’ve got to wrap up this cotton harvest. Dr. Jody Campiche, Vice President, Economics and Policy Analysis for the National Cotton Council provides an update…
“As of October 15, 33% of the U.S. crop had been harvested which is right in line with the five-year average. Crop development had been behind the normal pace in many areas but is mostly caught up over the last week with 87% of bolls open as of October 15.”
With a range of extremely dry and hot weather this summer to late-season rain and hail, Dr. Campiche says the growing season has been difficult. As a result, insurance inspectors are looking at fields to help determine what should be abandoned.
“Abandonment rates, particularly in Texas, will likely increase over the coming weeks. In last week’s USDA Supply and Demand Report, USDA made a further reduction to the U.S. crop to 12.8 million bales as compared to 14.5 million bales last year.”
With lower production for two years in a row Dr. Campiche says U.S. stocks will remain tight for the 2023 crop year.