Cotton crop facing pressure ahead of 2023 season
A Georgia cotton farmer says the 2023 cotton crop is already under significant pressure and a lot of it has yet to be planted. Matt Coley farms in south-central Georgia. “When you have a crop that is primarily exported and is spun around the word it’s a concern with demand when the world economy is struggling like it is,” he says.
He tells Brownfield he’s optimistic 2023 will be a better year for cotton producers. “I’m holding out hope that we’re going to see some improvement in the global economy,” he says. “You’re consistently seeing export reports that are showing bales being shipped that are exceeding expectations in a lot of the weeks.”
Cotton acres are projected to be lower again this year following a 2022 crop that was down from expectations. Coley says right now all eyes are on Texas. “They’re going into this year still in drought conditions in some of the major growing areas,” he says. “So if they continue to not get timely rains throughout the growing season there is the potential for the US crop to be much smaller than expected.”
Coley says if demand for U.S. cotton sees an uptick, cotton prices could move higher this fall.
AUDIO: Matt Coley, Georgia cotton farmer