Cotton supplies are up this year, but prices remain depressed. However, USDA’s Outlook Board says that cotton is a unique crop.
According to Mark Jekanowski, “We’re looking at a U.S. crop of about 14.5 million bales and that’s about up almost 2.5 million bales from last year. It’s an interesting crop because it’s really driven by general economic conditions, consumer demand, and the overall outlook for the U.S. and the global economy. So, there’s been some concerns about cotton demand and consumption that has been weighing up prices.”
USDA has the cotton crop 20% larger this year, but prices are down around 13% from last season.
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