As speculative funds exited the market, fundamentals are now back in the picture. Prices in the low 80s are a bit low for cotton, and the market will likely move higher.
Thanks to rain in the Southwest and rumors of a Chinese cotton tariff, 90 cent cotton is now likely a pipe dream. But demand remains strong, and good prices are still ahead.
In a recent presentation, Dr. Don Shurley reviewed current factors influencing the cotton market and summarized the highlights.