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Cotton Prices Go Limit Up Following August USDA Reports

Cotton Prices Go Limit Up Following August USDA Reports

The roller coaster ride continues.

Hours after USDA released its recent production and world/supply demand reports on August 12, cotton prices jumped from their lowest point in years (61.20 cents/lb) to go limit up to 64.82 cents per pound.

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The reports downgraded total U.S. acres for 2015 to 8.9 million and lowered the production forecast to 13.08 million bales – a drop of nearly 20 percent. Anticipated harvested acres also decreased, as did expected average yield.

Production estimates were also down for both China and India.

Click here for more details from AgriMoney.com.