Cotton futures remain low as planting season nears - WALB.com, South Georgia News, Weather, Sports

Cotton futures remain low as planting season nears

Van Murphy Van Murphy
BROOKS CO., GA (WALB) -

One South Georgia Cotton expert was optimistic as of Thursday about the 2015 cotton crop even though, as of Thursday, futures were low with less than a month to go before planting season.

Cotton futures were around 65 cents a pound as of Thursday, but farmers needed the price to be about 10 cents higher in order for them to be able to make a profit.

But, Van Murphy, General Manager of BCT Gin in Brooks Co., said the demand for cotton overseas may help make up for the the low futures.

"Overall, I'm kind of optimistic about U.S. cotton. There's a good demand for our cotton, other countries want our cotton and they're payin' premiums for it," Murphy explained.

Murphy said it is important for farmers to have a good year in 2015 to make up for the tough year they had in 2014. He said he expected there would be around 8-10,000 less acres of cotton planted in 2015 because of the low futures, which may make some farmers choose to plant other crops instead that give them a better chance of making a profit, but he encouraged farmers to not give up on cotton.

"There is a demand for good U.S. cotton, and here in the South we're growin' good quality cotton. So, I would just encourage [farmers] to not put all your eggs in one other basket and keep some cotton in that basket," said Murphy.

Cotton planting season begins around April 15th.

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