Global cotton shortage expected to worsen, New York cotton futures rise to 81.61 cents
- Boosted by intensifying expectations of a global cotton supply gap and a rebound in oil prices, New York cotton futures rose for the third consecutive trading day. The most active contract once climbed 2.5% to 81.61 cents per pound, reaching a new high since May 20.
- Since the beginning of this year, the rise in oil prices has enhanced cotton's competitiveness relative to petroleum-based synthetic fibers. Coupled with market expectations of tight supply, cotton futures prices have continued to increase.
- Last week, market analysis firm Cotlook raised its forecast for the global cotton gap for the 2026-2027 season to 657,000 tons. This was the third time the firm has revised its estimate upwards, citing increased demand from Bangladesh, India, and Vietnam, which has further strengthened the bullish outlook.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US President Donald Trump says was ready to strike Houthis in Yemen, then pulled back
ZAMA gains traction as 24h trading volume surges
Global economy risks fragmentation! Australia bets on AI as a new growth engine
In a potentially more fragmented and unpredictable global economy over the next 40 years, Australia relies on the deployment and development of artificial intelligence (AI) to drive economic growth.
Europe’s aviation fuel “red alert” in the fourth quarter: Shortfall will reach 510,000 barrels/day, South Korea’s exports surge to a four-year high to urgently fill the gap
According to analysts and shipping data, Europe will face a supply gap for aviation fuel in the fourth quarter, even as it turns to distant suppliers such as South Korea. South Korea's aviation fuel exports to Europe in September are set to reach a four-year high.
Crypto prices
More
