Cotton’s pent-up demand will surface, but not before the first quarter of 2025. Until then, the mid-70s to low 80s will carry the headlines.
Low prices have encouraged export sales of U.S. cotton, notes Dr. O.A. Cleveland. Yet the level of sales is not sufficient to suggest that demand is improving.
Current numbers suggest the bearishness the market is experiencing should be expected to continue. But almost the entire growing season is still in front of this year’s crop.