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Australian graziers preparing for a dry winter are struggling to buy cottonseed, a popular cattle feed, because cotton growers are selling their lint more slowly. The cotton crop is forecast to fall by about a third next season, which would reduce cottonseed supply further.
Tight cottonseed availability in Australia and a smaller cotton crop ahead support higher prices for cottonseed feed and for substitute fibre and protein feeds during drought.
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Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.