Word: bolling
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Before the appearance of the boll weevil, the American cotton crop had reached 16,000,000 bales in one season. The demand for cotton has been good for the past two years, but so serious have been the inroads upon the cotton plant by the insect pest, that including the present year, there have been short crops for three years running. Slack demand and low prices can account in part for the small 8,000,000-bale crop of 1921; and to a much lesser extent for the 9,000,000-bale crop of 1922. During the past year, however...
...over the world there is a pressing demand for cheap cotton. In the past, America has supplied this demand, but unless headway can be made against the boll weevil menace, this country can produce only high-priced cotton...
...ravages of the boll weevil and unfavorable weather conditions have combined to produce another "short crop" of cotton for the third successive year. As a result, cotton contracts for future delivery have experienced another sharp rise, even passing the 35? level...
...high prices, neither they nor the jobbers and retailers will stock up, in order to avoid being caught with the high-priced goods in a declining market. Lower cotton prices must come, however, mainly through increased production, which has come to be a gamble against the weather and the boll weevil...
...high cotton prices should prove very profitable to those Southern planters who fought the boll weevil with sufficient success to bring in a good crop. It is, however, true that the Northern cotton mills are closing under the effects of a buyers' strike; the consumption of cotton will probably not increase greatly in the near future. But surplus stocks are now relatively small, and present high cotton prices can scarcely be rendered until larger production of the raw cotton is attained...