What are the futures of cotton in 2023?

The investment in production equipment (round bale picker @ $1.3 million) and ginning infrastructure has become a major factor in supporting production. Too, growers have come to respect and heavily depend on their established crop rotation pattern. December 2023 cotton futures are expected to hold above 80 cents and forecast to reach 85 cents.

What will cotton prices look like in 2023?

Cotton production will hang by the thin threads of demand in 2023 — and prices will likely sway in the 80¢ to 85¢ per pound range, depending on La Niña's trajectory. Patience might be the most valuable tool for producers this year, especially when it comes to navigating the economic landscape.

Is the cotton price outlook bullish in 2023?

Long term, December 2023 and the March, May, and July 2024 contracts are undervalued. Thus, the long-term cotton price outlook remains bullish. Let us review our list of 2023 bullish and bearish market factors. The bearish factors are summarized in three words – Lack of Demand. Increasing carryover of cotton and cotton yarn is excessive.