U.S. cotton futures were mixed early Wednesday after closing modestly lower the previous session. USDA data showed the U.S. cotton yield estimate down 15 pounds per acre and production down 267,000 bales to 13.175 million; October ginning was also below last year and at a three-year low.
The lower production estimate and slower ginning point to tighter U.S. cotton supply, although lower domestic use partly offsets the production cut. The supply reduction is supportive for cotton prices, but the article does not establish a clear direction for feed commodities.
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.