LITTLE ROCK, Ark. (AP) — Arkansas agriculture officials say the cotton crop in the state is expected to drop sharply with farmers planting more profitable crops such as soybeans and corn.
The National Cotton Council of America estimates that 221,000 acres will be planted in cotton in 2013 — down nearly 63 percent from the 595,000 acres planted in 2012. The previous record low for cotton acreage is 320,000 in 1983.
University of Arkansas extension agent Robert Goodson told the Arkansas Democrat-Gazette (http://bit.ly/ZeilHq ) that soybeans and corn are more profitable.
The U.S. Department of Agriculture reports that cotton prices fell from about 95 cents per pound in 2011 to 66 cents per pound last year while soybean prices rose 17 percent to $14.40 a bushel and corn prices rose 11 percent to $6.95 per bushel.
Information from: Arkansas Democrat-Gazette, http://www.arkansasonline.com