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Farm Press reports that drought and triple-digit heat have cut cotton acres and yields in South Texas and the Coastal Bend, with insurance claims rising. Gins and oil mills across the region are feeling the impact, while the Upper Coast fared better.
Smaller US cotton crops reduce cottonseed supply to oil mills, which tightens cottonseed meal availability for dairy and beef feeders. The effect on feed prices is supportive but limited by the regional scale of the loss.
farmprogress.comShelley E. HuguleySep 1, 2023Not enough comparable past events yet for a historical read.
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.
