In neighboring Louisiana, the harvest also is looking good.
Prices, however, are low, especially compared to the record set two winters ago.
With about one-third of Mississippi's crop harvested, U.S. Department of Agriculture figures forecast a yield of 1,012 pounds per acre, seven pounds below the state record.
Mississippi State University Agricultural Extension Service cotton expert Darrin Dodds says a record could be possible if the weather stays dry for the next few weeks.
USDA's forecast of 960 pounds per acre in Louisiana would be the state's third-highest yield.
But prices are 70 to 80 cents a pound. In February 2011, the price hit a record of more than $2 per pound.