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On November 11, Xinjiang cottonseed spot prices were 2,620-2,650 yuan/ton in the north and 2,720-2,800 yuan/ton in the south. Third-grade cotton oil was 8,200 yuan/ton and cotton hulls were 730-830 yuan/ton.
Prices continued to adjust lower.
Lower cottonseed and hull prices in Xinjiang lower the cost of feed ingredients in western China and weigh on the value of cottonseed as a feed input. The effect is regional rather than global.
Not enough comparable past events yet for a historical read.
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.