Cotton suffered another sloppy week as lower Chinese prices, coupled with bearish inflation numbers and very weak apparel sales, all worked to force prices lower.
Cotton prices in the mid- to high 70s uncovered enough demand to help establish a market bottom, as mills were enticed to make six-month high purchases.
Cotton’s pent-up demand will surface, but not before the first quarter of 2025. Until then, the mid-70s to low 80s will carry the headlines.