Texas-Oklahoma producer cotton market summary: 1998/99

The size of the 1998 Texas-Oklahoma cotton crop decreased considerably from the previous year and the average producer price declined for the third year in a row. The average price received by producers during the 1998/99 marketing year was 51.14 cents/lb., which was 6.85 cents/lb. lower than the previous marketing year. The 1998 crop was generally of good quality. With the exception of the first digit of the color grade, staple, and strength, the average quality showed improvement over the 1997 crop. With the exception of level 2 bark and the first digit of the color grade, price discounts for the 1998 crop increased for all quality attributes, while premiums for staple and strength both increased.