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USDA cut its 2026/27 global cotton production estimate to about 117.5 million bales, with reductions in the United States and Brazil partly offset by changes in Turkey, Bangladesh, China and Australia. ICE Cotton No. 2 futures were trading in the high-70s cents per pound, with the December 2026 contract around 78-79 cents/lb, while physical prices stayed under pressure from harvest flows.
A smaller global crop tightens the cotton balance sheet and supports prices, but uncertain mill demand and harvest selling limit the rally. Cotton is not a feed commodity, so the effect on feed buyers is indirect.
commodity-board.comNov 13, 2026Not 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.
