California cotton farmers may be seeing less pay in 2013. Sabrina Hill reports.
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In fact, cotton producers nation-wide are expected to reduce cotton plantings. USDA Chief Economist Joe Glauber says prices dropped in 2012 from the 88 to 90 cents per pound of 2011 and another drop is expected this year. Prices could average about 68 cents a pound, and Glauber says that could lead to a significant decrease in cotton planting this year. Nationwide, more than 12 million acres of cotton were planted last season. Glauber says he’s waiting until the February USDA Outlook forum before predicting how much of a cut back the nation will see. California grew about 400,000 acres of cotton for the 2012 season.