The Cotton Board Approves 2020 Cotton Incorporated Budget; Elects Officers
August 26, 2019 The Cotton Board has reviewed and voted to recommend Cotton Incorporated’s proposed $86 million budget for 2020 to the Secretary of Agriculture.
The budget, which represents a $4 million increase from 2019, was approved during the organization’s recent annual meeting in Durham, NC.
The 2020 Cotton Incorporated plan and budget remains focused on several key, primary issues and addresses some immediate challenges to help increase market share and restore long-term profitability to the industry. Top priorities include Sustainability, Agricultural Research, Cottonseed Value and Lint Contamination.
The largest percentage budget increase – 12% – is earmarked for Cotton Incorporated’s Agricultural and Environmental Research Department.
The 2020 budget and plan, along with The Cotton Board’s recommendation of approval, will be forwarded to USDA for final approval.
Posey Heads New Officer Slate
During its Business Session, The Cotton Board elected new officers to guide the Program, including Jeff Posey, a cotton producer from Roby, TX, who was elected Chairman for the 2019/2020 Program year during The Cotton Board’s Business Session.
A fourth-generation cotton grower managing approximately 5,000 acres in the Rolling Plains of Texas, Posey began serving on The Cotton Board in 2005. He is a 2010 recipient of the High Cotton Award.
New Cotton Board Chairman Jeff Posey (left) recognizes and thanks outgoing Chairman Peter McGrath.
“I am honored to be serving as The Cotton Board’s Chairman,” said Posey. “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.”
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.”
In addition to Posey, other newly elected Cotton Board officers are:
- Vice Chairman – Jimmy Webb, producer from Leary, GA
- Secretary – Sonja Chapman, importer from Boonton, NJ
- Treasurer – Mark Nichols, producer from Altus, OK.
Based on information provided by The Cotton Board
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