As prices increased due to lower US ending stocks, cotton fell on profit booking
Cotton prices fell by -0.96% to 62040 due to profit-taking. Lower U.S. cotton predictions for 2023–2024 decreased production and ended inventories. U.S. production dropped by 334,000 bales to 12.1 million, with ending inventories reduced by 300,000 to 2.5 million. Despite this, upland producers maintained a projected 77.0 cents per pound price. Global cotton supply and…
