U.S. cotton prices, which suffered one of their deepest postwar price slumps (as much as $10 a bale) in the futures market a fortnight ago, took another blow last week. The cause: an estimate by the U.S. Department of Agriculture that, despite a 14% acreage cut ordered this year to shore up prices, the 1955 cotton crop will be 2% bigger than 1954's 13,696,000 bales. Good weather, increased use of fertilizer and close planting had boosted productivity; the average acre, by the department's estimate, would yield a "fantastic" 405 lbs. v. 341 last year and an average of 279 in...
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