Cotton Benchmarks Flat or Slightly Lower
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Chinese Cotton IndexSourcing Journal
•Business
Business & Economics
Cotton prices were either flat or slightly lower over the past month
84% Informative
Cotton benchmarks were either flat or slightly lower over the past month .
Prices for NY/ICE futures moved lower following tariff-related announcements made April 2 .
The latest USDA report featured limited changes to most forecasts.
The world production forecast was lowered -69,000 bales to 120.9 million .
Prices for old crop ( May and July ) and new crop ( December ) contracts dipped after the April 2 announcement.
Prices only fell to levels around those reached in early March (when China announced a 15 percent retaliatory tariff on U.S. cotton) A factor that may have the potential to pull prices lower is the threat of a global recession, says Jon Devine .
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