The cotton industry can be optimistic for five reasons. The industry is (1) based on the number one industrial fiber in the world; (2) has demonstrated an ability to work as a unified team through the National Cotton Council; (3) is supported by Cotton Incorporated's tremendous job in product promotion; (4) has the world's best federal and state research and extension efforts; and (5) has innovative cotton producers eager to try latest in proven and recommended practices. U.S. cotton producers must, however, become more efficient crop managers to create prosperity and that means getting the most from the cotton plant with minimal input costs. Also, the level of federal agricultural research and development budget funds must be maintained and increased to keep technology flowing into producers' hands.