SUMMARY OF THE OUTLOOK FOR COTTON.

The article reports on the forecast regarding various aspects of cotton production for 2008-2009. It is said that the increase in cotton prices, which is said to average 73 cents per pound in 2007-2008, is caused by price increase in competing crops and speculative activity. Because of competitions from grains and soybeans, world production of cotton is reportedly down by two percent in 2007-2008 in the United States, Brazil and Turkey. Projections of increase in cotton production in Asia, West Africa and Australia are also mentioned. The new farm bill for 2008 introduces average crop revenue election (ACRE) and adjustment assistance programs, which are programs that may help the U.S. cotton industry.