Efforts to help control the spread of the COVID-19 coronavirus have caused a decrease in nearly all ag markets. The cotton industry is no exception and has seen its fair share of business disruptions.
According to the Nation Cotton Council, U.S. cotton futures prices have declined almost 30 percent since the beginning of the year. As they prepare for the 2021 crop, farmers are now faced with uncertainty brought on by low markets. Cotton outlets, like textile mills and retail stores, are forced to shutdown due to health concerns.
Retail stores, mills, and other fabric industries will see an increased cost from shipping delays and accommodations for those delays with extra storage of the product.
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