September’s USDA production and supply and demand numbers provide reasons for cotton prices to increase – but also provide reasons to be cautious about it doing so.
Lower is the key word for USDA’s September 2023 WASDE report for cotton, with decreased production, trade, consumption, and stocks projected for the U.S. and global market.
Hopefully, USDA’s September supply demand report will provide additional price direction. Yet growers should be aggressive sellers on any move above 87.50.