How Drought Cost America’s Cotton Industry Billions
November 19, 2022
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as posted by the channelBarry Evans is a Texas cotton farmer facing a severe drought. Extreme heat and lack of precipitation forced the fourth generation farmer to walk away from 75% of his cotton crop. And Evans is not alone. Across Texas farmers are expected to abandon roughly 69% of the cotton acres that they planted earlier in the year. The Lone Star State accounts for about 40% of U.S. cotton production. And it's not just cotton farmers who are impacted by the drought. Cotton gins, where cotton is processed, may be facing an even tougher time. America’s cotton production is expected to be about 14 million bales in 2022 down 21% from the previous year. Cotton prices, which surged in the Spring of 2022 following growing Chinese demand, have since fallen amid economic uncertainty and a strong U.S. dollar. The cotton industry is facing other headwinds too as consumers shift towards clothes made from synthetic fibers like polyester and nylon. Watch the video to learn more.
Produced by: Shawn Baldwin
Production Assistant: Macklin Fishman
Graphics: Jason Reginato
Supervising Producer: Jeniece Pettitt
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How Drought Cost America’s Cotton Industry Billions
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