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Cotton prices, measured by the A-Index and New York futures, have rallied above $1.00 per pound and the A-Index reached nearly $1.30, a 10-year high. USDA's October and November forecasts show smaller cuts to world stocks because of higher production in Brazil, Australia, Pakistan and Turkey.
Lower use in China and Vietnam also left ending stocks higher than previously expected.
Cotton prices are rising even though global stocks are less tight than earlier forecasts, which signals firm cotton values. The effect on animal feed is limited, mainly through cottonseed meal.
graincentral.comGrain CentralNov 11, 2021Not 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.
