A group of Senators wants the next round of COVID-19 assistance to support the cotton and textile industry.
Led by Republican Senator Thom Tillis of North Carolina and Democratic Senator Mark Warner of Virginia, the group penned a letter to Senate leadership this week.
The Senators say the U.S. cotton and textile industry “is particularly hard hit as the COVID-19 pandemic is causing unprecedented demand destruction for cotton apparel and textiles.”
The group says the “viability of the farms and businesses, and the jobs they represent, are at risk of not surviving this crisis.”
From March through May, clothing sales are down by $44 billion, or 67%, relative to the same three-month period in 2019. U.S. textile mills report a 90% drop in orders for the yarn they produce.
Cotton prices fell by as much as 30% since early this year, and that decline represents a loss in market value of approximately $160 per acre of cotton.