I’ve heard one grower comment that “cotton should be $1.50.” I doubt we’ll get there, but we can always hope.
Cotton has made a good little run since the end of June, making it to the 88 cents neighborhood twice. This run took us again to the highest prices in almost a year. This level may be tested. We’ll see how much staying power it has. Any run, if it’s based on supply side factors, isn’t likely to stay unless there’s also demand (buying) at that level.
USDA’s August supply/demand numbers have attributed overall to a little more bullish tone to the market that we haven’t seen in a while.
- The upcoming 2023 U.S. crop was cut by 2½ million bales – a huge revision down in acres to be harvested and expected yield.
- But projected U.S. exports for the 2023 crop year were trimmed by 1.25 million bales, taking some of the steam out of the impacts of a smaller…
