Cotton prices hovered around $6.4 a bushel, up more than 30% since hitting an 11-year low in March as demand has been improving in line with easing in Covid-19 restrictions. Still, demand remains well below pre-pandemic levels. Meantime, the US announced a selective import ban to some imports of cotton from China abandoning plans to broad ban. On the supply side, unfavorable weather conditions across India pose a threat to crops.
Historically, Cotton reached an all time high of 1349 in September of 2020. Cotton - data, forecasts, historical chart - was last updated on September of 2020.
Cotton is expected to trade at 62.28 USd/Lbs by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 55.59 in 12 months time.