Cotton prices could fall dramatically this year after reaching record highs in 2022

Jonesboro, Arkansas – Last year, Arkansas cotton growers made a lot of money, but this year, things might be different.

Scott Stiles, the extension economist for the University of Arkansas System Division of Agriculture, told Talk Business & Politics, that 2022 saw “historically strong prices, but also historically volatile price swings.”

Midway through the month of May, the price of December cotton futures reached a high of $1.3379, which led to a rise in the number of acres planted.

However, looking ahead to the year 2023, Stiles warns that acreage may decrease, which may also cause prices to rise.