Loading…
US cotton futures spiked to 87.18 cents per pound before Agriculture Secretary Perdue's May 15 testimony, then fell back to about 78 cents. December 2017 futures have traded near 73 cents.
Perdue said the price gains were good news but signaled he was unlikely to make cotton eligible for Price Loss Coverage.
Analysts expect the rally in old-crop cotton to fade as increased plantings keep pressure on prices. Cotton is not in the commodity list, so the direct feed-price effect is limited.
agri-pulse.comPhilip BrasherMay 25, 2017Not 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.
