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USDA's November WASDE cut US cotton production to 13.18 million bales from 13.44 million last month, with yield at 775 lbs per acre. Ending stocks were estimated at 3.70 million bales.
Cotton futures eased slightly, and USDA put US orange output at 61.7 million boxes.
A smaller US cotton crop means less cottonseed available for crushing, which tightens supplies of cottonseed meal and whole cottonseed used in livestock rations.
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.