This week's Cotton Newsline is 5 cuts.All cuts are Terry Townsend, Executive Director of the International Cotton Advisory Committee.
Suggested Introduction 1
At the 2012 Beltwide Cotton Conferences Terry Townsend presented a long term economic outlook for the cotton industry.Townsend says the biggest constraint for cotton is the lack of a breakthrough technology that will significantly increase yields.
Suggested Introduction 2
Townsend says due to this constraint there will not be significant changes in production or consumption.
Suggested Introduction 3
Townsend says over the last 50 years the cotton prices have moved up and down in stair steps.
Suggested Introduction 4
According to Townsend polyester is cotton's number one competitor.
Suggested Introduction 5
Townsend says we will continue to see consolidation within the cotton industry.