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Cotton Incorporated reports that US cotton output is estimated at 17.0 million bales, a 14% drop, based on USDA's October outlook. Whole cottonseed for feed is projected at 3.3 million tons, roughly 600,000 tons below last season.
Lower whole cottonseed availability tightens dairy feed supply, which can lift prices for cottonseed-based feeds and substitutes.
Not 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.