Reflecting on the recent weather events, many people were surprised when USDA increased its expectations for upland cotton.
USDA Outlook Board Chairman Mark Jekanowski says that the crop was slightly bigger than expected.
“Some of the market might have been anticipating for production to actually come down a bit, just reflecting recent weather events with Delta and else where,” he states. “We did, however, increase our market price estimate up 5 percent, that’s up 3 cents a pound to 64 cents.”
As of November 1st, USDA reported an average yield of 901-pounds per acre, up two on the month and 91 on the year.