White Deer, Texas - Sky-rocketing cotton prices are surprising even farmers, and making a big impact beyond the Panhandle.
Today's prices are doubling and even tripling the average of 60 cents a pound. It's all because of a worldwide cotton shortage, one that our area is helping to supply.
It's good for farmers, but it could make things more expensive for consumers. You may notice the effects the next time you go shopping. Carson County Cotton Gin manager Keith Mixon says, "Prices will increase. They have already talked about denim, let's say for a pair of jeans actually going up maybe seven dollars a pair. It's a trickle down process as with higher prices, the merchants that purchase the cotton, the mills that use it, the spinners, and then the end result is the consumer."
These high prices aren't all a bad thing. In fact, they are boosting the local economy. This newfound money is helping to revitalize rural towns and is allowing farmers to purchase new, much-needed equipment.