China could cause cotton to take a tumble - KCBD NewsChannel 11 Lubbock

3/9/09

China could cause cotton to take a tumble

LUBBOCK, TX (KCBD) - NewsChannel 11 continues to track the Lubbock economy.  The biggest customer for Lubbock cotton is the China textile industry.

Chinese mills are cutting back so much that it's forecast to cause a worldwide price drop. Texas Tech says cotton is predicted to drop to 50 cents a pound, and that it could take six to eight years to fully recover.

Cotton has a $5 billion impact on the greater Lubbock area.

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