Cotton futures were trading around 140 Usd/Lbs, down more than 10% from an 11-year high of $158 hit in early May, on prospects of higher supplies amid favorable weather in top growing regions. Cotton planting was reported as 68% complete as of 5/29, up 54% from last week and 4% points ahead of the average pace, offering hope of solid yields. At the same time, demand for cotton is seen weakening among the stockists and traders amid high inflationary pressures. Meanwhile, the USDA lowered its forecasts for global cotton supplies in 2022/23, as smaller beginning stocks more than offset a 2.6-million-bale increase in production, while consumption and ending stocks were also projected down. Historically, Cotton reached an all time high of 227 in March of 2011. The cotton features are available on the New York Mercantile Exchange and Chicago Mercantile Exchange. The size of each contract is 50,000 pounds. The biggest producers of cotton are China and India, followed by United States, Pakistan, Brazil, Australia and Uzbekistan. The United States is the biggest exporter of cotton (40% of total exports). Cotton is the world’s most widely-used natural fiber for clothing. Cotton prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our cotton market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.

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