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If cotton prices are to improve, it’s got to start sometime, somehow. USDA’s May report might just be part of this start.
The key to a better price outlook continues to be improved demand. But the ever-changing uncertainty of current U.S. tariff policies and related concerns over economic slowdown and/or recession are not helping.
USDA’s 9.87-million-acre projection for cotton is within most expectations, but the reduction is on the lower side.