I said it at 61/62 cents, so I’d best say it for 57 cents. The bottom is in.
The recent COTTON USA Sourcing USA Summit brought representatives from global sourcing companies together with the U.S. cotton industry to discuss the advantages of U.S.-grown cotton.
The recent trading action that pushed cotton prices into the 50s is linked to the interplay of spec short covering and spec long liquidation, which should keep the market in its current sideways trend.