)) 
THE COST OF PRODUCING COTTON, 47 
sufficient data on this point in connection with the cost of producing 
cotton on the farms in this study, an estimate of 85 per cent of the 
product as the bulk-line cost was used in order to call attention to 
the fact that the price relation which is significant is not that of the 
average cost but the marginal or bulk-line cost. Further investiga- 
tions will be necessary in order to obtain a satisfactory basis for 
estimating, with a fair degree of accuracy, the relation which will 
need to cxist between the range of costs and the market price in 
order to maintain a given line of production. 
Taste XLVI.— Variation in net cost per pound of lint, as shown by records on 842 
farms (1918 crop). 
Cae Acreage. Production. 
a Number tive a 
pound of | of farms. pent or Total Cumula-| Total | Cumula- - 
lint. Ri eine, ROD EEAT tive per | pounds | tive per 
-|Pergroup-| cent. |pergroup.| cent. 
$0. 08 3 0. 36 35 0.10 10, 200 0.13 
ROD Reet erwiotree HoOne |e ce aos SOE eae eae 5s} 
-10 2 . 60 31 .19 12, 000 . 29 
ll 7 1. 43 161 . 67 61, 000 1.09 
.12 3 1.79 60 -85 15,175 1.30 
-13 7 2. 62 256 1.62 77, 430 2.32 
14 11 3. 93 531 3. 21 149, 168 4.28 
15 12 5.35 864 5.79 | 306,503 8.31 
16 24 8.20 | 1,549 10.42 | 391,470 13. 46 
17 24 11.05 1, 213.5 14.05 | 266,936 16. 97 
18 37 15.44 | 2,386 21.18 | 533,801 23.99 
19 30 19.00 | 1,487 25.62 | 331,842 28. 36 
20 47 24.58 | 3,169.5 35.09 | 798,920 38. 87 
21 48 30.28 | 2,229.5 41.75 | 529,945 45. 84 
22 45 35.62 | 2,037.5 47.84 | 456,512 51.85 
23 51 41.68 | 2,401 55.02 | 526,054 58. 77 
24 58 48.57 | 2,718 “63.14 | 629, 221 67.05 
25 38 53.08 | 1,956 68.99 | 409, 286 72. 44 
26 39 57.71 1, 885 74.62 | 402,587 77.74 
27 37 62.10 | 1,345.5 78.64 | 292,190 81. 58 
28 37 66.49 | 1,215.5 82.27 | 258,900 84. 99 
29 31 70.17 898 84.95 | 202, 240 87.65 
30 28 73. 50 981 87.88 | 205,408 90. 35 
31 19 75. 76 377 89. 01 67, 130 91. 23 
-o2 12 77.19 201 89. 61 38, 461 91.74 
Oo 26 80. 28 662 91.59 | 156,415 93. 80 
. 34 19 82. 54 815 94.03 | 135,225 95. 58 
xo 13 84. 08 283.5 94.88 55, 280 96. 31 
. 36 8g 85. 03 108.5 95. 20 19, 940 96. 57 
37. 7 85. 86 132 95. 59 22,945 96. 87 
- 38 i 86. 69 146 96. 03 27, 990 97. 24 
39 5 87. 28 51 96.18 8,300 97.35 
- 40 5 87. 87 85 96. 43 15, 950 97.56 
41 9 88. 94 211.5 97.06 35, 540 98. 03 
.42 3 89. 30 64 97. 25 10, 650 98. 17 
-43 5 89. 89 39 97.37 6, 231 98. 25 
-44 7 90. 72 108 97.69 17, 088 98. 47 
45 8 91. 67 105 98. 00 16, 734 98. 69 
- 46 7 92. 50 71 98. 21 11,348 98. 84 
-47 4 92. 98 48 98. 35 9, 590 98. 97 
48 3 93. 34 42 98. 48 6, 571 99. 06 
-49 2 93. 58 13 98. 52 1,775 99. 08 
. 90 3 93. 94 25 | 98. 60 5, 040 99.15 
Notre.—Fifty-one farms, representing less than 1 per cent of the cotton production having costs exceeding 
50 cents per pound, are omitted because the total acreage and production for these farms represent only 
a small part of the totals. 
Theoretically it may be claimed that the supply will readily ad- 
just itself to changes in cost and in price, but there are undoubtedly 
some farm operators in the Cotton Belt who would be very reluctant 
to substitute other farm enterprises for cotton, since they have grown 
this crop for many years and they do not see clearly how they can 
