Agriculture trends affect Texas panhandle economy - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Agriculture trends affect Texas panhandle economy

Posted: Updated:

Amarillo, TX -- Shifting trends in area farming will be felt across the panhandle's collective pocketbook. 

Agriculture is by far the largest sector of the panhandle's economy, so any major changes are felt far and wide.

This year's crop production eclipsed last years across the board, but that is largely due to 2011's record drought which decimated Texas crop production.

Scarcity created price hikes and in turn production surges for many crops, cotton especially.  Those surges led to gluts in the market, as AgriLife Extension Economist Dr. Stephen Amosson explains,

"Two years ago, when we saw $2.00 cotton, which was a record price, everybody across the world decided that they were going to plant cotton, and then prices started coming down, and they planted more cotton."

Cotton is big business in the panhandle - Texas is the king of cotton, producing a quarter of the national supply, far more than any other state.

But falling prices mean some cotton farmers may make a transition to crops with a higher profit margin, like sorghum or wheat.

If you'd like to see a recent USDA production report or a Happy State Bank economic report, follow the associated links.

  • Today's Local News HeadlinesToday's Local NewsMore>>

  • Scam targets college students

    Scam targets college students

    Thursday, April 17 2014 11:53 PM EDT2014-04-18 03:53:02 GMT
    Millions of dollars in student loans are due each year, but now some scammers are taking advantage of students who are working hard to pay them off. In many cases, the student loan scammer claims to get rid of your debt, but asks for a fee up front.'When you are asked to pay a fee before you get the loan, that's actually illegal in this country. It's called an advanced fee loan scam," said Janna Kiehl with the Amarillo Better Business Bureau.But, student loan debt can quickly become overwhelm...
    Millions of dollars in student loans are due each year, but now some scammers are taking advantage of students who are working hard to pay them off. In many cases, the student loan scammer claims to get rid of your debt, but asks for a fee up front.'When you are asked to pay a fee before you get the loan, that's actually illegal in this country. It's called an advanced fee loan scam," said Janna Kiehl with the Amarillo Better Business Bureau.But, student loan debt can quickly become overwhelm...
  • Snack Pak 4 Kids needs help fighting summer hunger

    Snack Pak 4 Kids needs help fighting summer hunger

    Thursday, April 17 2014 9:27 PM EDT2014-04-18 01:27:33 GMT
    Amarillo, TX - Snack Pak 4 Kids works with area schools to end weekend hunger, but that hunger doesn't end when schools get out for summer.
    Amarillo, TX - Snack Pak 4 Kids works with area schools to end weekend hunger, but that hunger doesn't end when schools get out for summer.
  • Power of the Purse Luncheon

    Power of the Purse Luncheon

    Amarillo,TX - The annual Power of the Purse Luncheon brought many people to the Amarillo Civic Center today. 
    Amarillo,TX - The annual Power of the Purse Luncheon brought many people to the Amarillo Civic Center today.