- Harvest underway in Oklahoma
- Gins running
- Price is high
"Typically," Cowart said, "the cooperative will spread out cotton sales to get the best prices we can. Around one-third will be sold pre-harvest, another one-third during the harvest and the final one-third will be sold after the harvest each year.
"Cotton is sold at a price above the government loan value for the crop, around 52.40 cents per pound. If farmers sold some of their cotton before harvest, they probably received 12 cents per pound over loan value for it. Currently, with the high prices being paid, they would be receiving 55 cents per pound over loan value.'
Whatever price farmers receive, Cowart says, the price they are paid will depend on the quality of their cotton.
"If you and I have cotton which grades the same, we will receive the same price for it," he said. "Cotton mills demand cotton which has a long, strong fiber that will enable them to make top quality cloth."