Related Keywords: Cotton market, cotton planting, cotton prices, US farmer
The forecast is a turnaround for the U.S. cotton market and could boost global supplies of the fiber. Many U.S. cotton farmers last year opted to grow other crops such as corn and soybeans after cotton prices fell in 2011 and 2012. But this spring, U.S. farmers are set to plant more cotton than they did last year and reap a crop almost one-quarter larger than the previous harvest as farmers are hoping to benefit from prices that have gained more than 7% from a year ago, but the projected production increase from the world's biggest cotton exporter could turn around that price pick up.
