As 2022 ends, Dr. O.A. Cleveland reviews the bullish and bearish factors weighing on the cotton market for 2023.
The new crop December 2023 contract made the major statement on the week as it broke above 80 cents. Longer-term weather factors will determine if prices can climb above 85 cents. As Dr. O.A. Cleveland notes, time will tell.
A year that started with great promise for cotton has now turned bearish. Here’s why and what it means for 2023.