THE COST OF PRODUCING COTTON. 49 
For that portion of the 1918 crop which was actually sold from 
these farms prior to the time the records were taken, representing 
76 per cent of their total production, there was a range in price from 
less than 20 cents to 43 cents per pound. Eighty per cent of the 
cotton sold brought prices which varied from less than 25 cents 
'@ to 32 cents per pound. Only a very small percentage of the cotton 
sold brought less than 23 cents per pound, which was the average 
cost of producing cotton on these farms. 
