USDA’s September numbers are not likely to help move prices out of the 62 to 67 cent range they’ve been in for the past 11 months.
The more things change, the more they stay the same. But tight supplies of quality cotton will support prices in the 60’s and eventually pull the spot futures above 70 cents.
The cotton market is going higher – in fact, higher to the extent that U.S. planted acreage will expand in 2016.