As U.S. cotton farmers make plans for 2012, they face a significantly different set of economic factors than they did a year ago.

“Cotton prices were on their way up (last year),” says Gary Adams, vice-president, economic and policy analysis, National Cotton Council. He says markets last winter were buoyed by concerns that supplies would not be adequate to meet mill demands.

Adams, in a Farm Press interview at the NCC annual meeting last week in Fort Worth, Texas, said the current market shows “concern about global supplies.

“Coming off the 2011 harvest we have a larger world crop. We’re still seeing global demand suffer from the uncertainty in the global economy, and we’re still seeing some of the aftermath of the very high prices we saw in the spring of 2011 that put a lot of stress on textile mills.”

He says the financial pressure on mills, combined with concern over the general economy has resulted in weak demand over the past few months.

“That’s leading to a recovery in global stocks.”