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The Cotton Board Recommends $86 Million Cotton Incorporated Budget to Secretary of Agriculture

August 14th, 2019

Texas Cotton Producer Jeff Posey Elected Cotton Board Chairman and New Officers Elected

(MEMPHIS, Tenn.) – During its Annual Meeting in Durham, North Carolina, The Cotton Board reviewed and voted to recommend Cotton Incorporated’s proposed 2020 budget of $86 million to the Secretary of Agriculture. This is a $4 million increase from the 2019 budget.

The 2020 Cotton Incorporated plan and budget remains focused on several key, primary issues and addresses some immediate challenges in order to increase market share and restore long-term profitability to the industry. Top Program priorities include Sustainability, Agricultural Research, Cottonseed Value and Lint Contamination. The Agricultural and Environmental Research Department of Cotton Incorporated will receive the most substantial percentage budget increase, with a 12% increase in funding for 2020. The budget and plan, along with The Cotton Board’s recommendation of approval, will be forwarded to the United States Department of Agriculture (USDA) for final approval.

During its Business Session, The Cotton Board elected new officers to guide the Program, including Jeff Posey to serve as Chairman for the 2019/2020 Program year. Posey, a cotton producer from Roby, Texas commented on his election, saying, "I am honored to be serving as The Cotton Board's Chairman. My service on The Cotton Board has been one of the most educational and meaningful experiences of my life. Meeting farmers and importers from all over the U.S. has given me more wisdom and understanding of the cotton industry than I could have ever expected. I look forward to serving this industry and assisting The Cotton Board in achieving its mission of increasing the demand for and profitability of cotton.” Posey is a fourth-generation cotton grower operating over five thousand acres in the Rolling Plains of Texas. Posey began serving on The Cotton Board in in 2005 and is a 2010 High Cotton Award recipient.

Before passing the gavel to Posey outgoing Chairman Peter McGrath, a cotton importer from Colorado, said " Jeff has a distinguished record of service to the cotton industry. He consistently tackles challenges with great character, thoughtfulness, and determination and I know he'll do the same as he leads our Program."

The full slate of newly elected Cotton Board officers is as follows:

Jeff Posey, Producer from Roby, Texas, Chairman

Jimmy Webb, Producer from Leary, Georgia, Vice Chairman

Sonja Chapman, Importer from Boonton, New Jersey, Secretary

Mark Nichols, Producer from Altus, Oklahoma, Treasurer

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Contact: Stacey Gorman, Director of Communications (870) 226-1445

About The Cotton Board: The Cotton Research & Promotion Act established the Cotton Board as a quasi-governmental, non-profit entity to serve as the administrator of the Cotton Research & Promotion Program. Funded by America’s cotton producers and importers through the cotton check-off, the Program’s research and promotion activities are conducted worldwide by Cotton Incorporated, the Cotton Board’s sole-source contracting organization, to increase the demand for and improve the market position of cotton. The Cotton Research & Promotion Program continues to work in all areas of cotton’s pipeline – from the field to the consumer – to keep cotton the number one fiber choice in the U.S. For more information about the Cotton Board and the innovative activities stemming from the Program, visit www.cottonboard.org.

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