Now that old crop has clearly broken through 65 cent ceiling, there is belief that prices will continue to trek higher toward a new “testing ground.”
A very tight quality shortage that only gets tighter will drive cotton prices higher. This market has 70 cents, basis December, written all over it.
Reduced global acreage, increased mill demand and low inventories of quality cotton could help push prices into the high 60s or even low 70s over the next few months.