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Cotton futures fell last week as harvest progress increased. USDA rated 33% of the crop good to excellent, and 52% of the crop was harvested.
Dry conditions were reported in Texas, the Delta and the Southeast.
Cotton is not a major feed commodity, but a larger cotton harvest increases cottonseed supply, which is crushed into cottonseed meal. The price effect on feed is small.
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.