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Cotton production is a $21 billion-per-year industry in the United States, employing over 125,000 people in total, [1] ... The average price was $0.58 per pound.
Abilene-area producers struggled with cotton production in 2023. Weather presented time challenges, and harvest numbers did not make the cut.
A "bale of cotton" is also the standard trading unit for cotton on the wholesale national and international markets. Although different cotton-growing countries have their bale standards, for example, In the United States, cotton is usually measured at approximately 0.48 cubic meters (17 cu ft) and weighs 226.8 kilograms (500 pounds). [6]
According to the ICAC, even though the United States may be the leading exporter of cotton, the cost of production is significantly higher than that of other countries. [9] The average cost of production of a pound of cotton is $0.80 per pound in comparison to $0.35 in the West African country of Benin. [9]
Due to the non-industrialized product, naturally colored cottons yield less per acre, but growers are paid higher prices for their harvest. In 1993, colored cotton prices ranged from $3.60 to $4.50 per pound compared to conventional white cotton at $0.60 to $0.90 per pound. [7]
Cotton production uses 2.5% of the world's farmland. [31] Half of all textiles produced are made of the fiber. [35] Cotton is a water-intensive crop, requiring 3644 cubic meters of water to grow one ton of fiber, or 347 gallons per pound. [36] Growing cotton requires 25% of insecticides and 10-16% of pesticides of what is used globally every year.
A cotton ball. Cotton is a significant cash crop. According to the National Cotton Council of America, in 2014, China was the world's largest cotton-producing country with an estimated output of about one hundred million 480-pound bales. [1] A cash crop, also called profit crop, is an agricultural crop which is grown to sell for profit.
A loaf of bread went for 10 cents in 1919 and today Wonder Bread goes for $3.50 a loaf, while a modern cotton farmer gets less money per pound than his great-grandfather did a century ago.