The cotton bulls are pushing with all their might, but the fundamentals just do not support prices higher than the 73-cent level.
Despite a bullish September supply demand report, the market simply cannot move beyond the fact that the demand for cotton is, at best, declining.
In USDA’s September 2024 WASDE report for cotton, the operative word continues to be “lower” for the second straight month for both the U.S. and global balance sheets.