Internationally Cotton Hits 4-week Low

cotton trade

Cotton: decreased to a 4-week low of 141.05 USd/Lbs, but not far from an 11-year high of $158 hit in early May, amid rising demand and possible lower supplies.

The USDA in its latest report lowered U.S. production by one million bales as the drought situation in Texas is predicted to reduce harvested acres.

At the same time, global supplies in 2022/23 are projected below a year earlier, as smaller beginning stocks more than offset a 2.6-million-bale increase in production, with consumption and ending stocks also lower.