Plains Cotton Cooperative to pay out $21 million - FOX34 Lubbock

Plains Cotton Cooperative to pay out $21 million

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LUBBOCK, Texas -

Despite the drought and trade disputes, the Plains Cotton Cooperative will pay out more than $21 million to its grower-owners across the Plains, running from Texas to Nebraska.

More than $9 million will be in cash, nearly $12.5 million in stock options. The announcement was made at the annual meeting in Lubbock.

Last year produced nearly 1.5 million bales, one of its top five crops in the co-op's history. 

China uses one of every three cotton bales in the world. The co-op's marketing director said it has accepted China is no longer a reliable market for American fiber.

Harvest for this year's crop is expected to start in the next few weeks.

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