Consumer spending continues to drive the U.S. economy. But Dr. O.A. Cleveland warns that demand degradation is in front of the cotton industry.
Dr. Don Shurley says USDA’s May supply/demand report offers what he considers to be a mixed outlook for the 2022 crop market.
USDA’s WASDE report for May 2022 anticipates a smaller U.S. crop due to increased abandonment, plus lower global estimates for production, supplies, and consumption.