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Market Impact: 0.28
Cotton Falling, Despite USDA Production Cut
Source: Nasdaq
Commodity FuturesCommodities & Raw MaterialsTrade Policy & Supply ChainCurrency & FXEnergy Markets & Prices
Cotton futures fell 140-147 points at midday Friday despite the USDA lowering its U.S. production forecast, as weak export demand continued to outweigh the tighter output outlook. Additional pressure came from a $2.64-per-barrel decline in crude oil and a stronger U.S. dollar index, both unfavorable for commodity demand and export competitiveness.
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