Cotton Holds Steady for a Third Week
Cotton futures traded around 80 cents per pound, holding within a narrow range since early October as rising US supply and softer export demand continued to weigh on prices. The US harvest continues to advance, with 41% of the crop harvested by the week ending October 18th, above the five-year average of 37%. Meanwhile, a White House assistance program to help rural producers cover fuel costs could further support harvesting progress. Supply expectations also increased in the latest WASDE report, which raised its global production forecast for the August 2026—July 2027 season to 25.8 million tonnes from 25.66 million, reflecting higher output projections for the US and Brazil. An intensifying competition from Brazil, the world's leading cotton exporter, continues to weigh on US export prospects. Brazil's Anea projects shipments of around 3.4 million tonnes over the period, compared with WASDE's US export forecast of 2.69 million tonnes.
Cotton futures traded around 80 cents per pound, holding within a narrow range since early October as rising US supply and softer export demand continued to weigh on prices. The US harvest continues to advance, with 41% of the crop harvested by the week ending October 18th, above the five-year average of 37%. Meanwhile, a White House assistance program to help rural producers cover fuel costs could further support harvesting progress.
Supply expectations also increased in the latest WASDE report, which raised its global production forecast for the August 2026—July 2027 season to 25.8 million tonnes from 25.66 million, reflecting higher output projections for the US and Brazil. An intensifying competition from Brazil, the world's leading cotton exporter, continues to weigh on US export prospects. Brazil's Anea projects shipments of around 3.4 million tonnes over the period, compared with WASDE's US export forecast of 2.69 million tonnes.