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Cotton prices likely to trade inversely to Dollar
26 Sep '09
4 min read
The decrease in the world production figure, combined with a 388,000 bale reduction in estimated beginning stocks, contributed to a 1.2 million bale reduction to forecast world ending stocks. The reduction in ending stocks decreased the stocks-to-use ratio 1.1 percentage points from last month's projection (from 51.0% to 49.9%). Challenging any fundamentals-based price movement, however, will continue to be the weak state of the global economy and reluctant consumer demand. Until demand resurfaces, prices could be expected to continue to move in a sideways pattern, fluctuating with outside market forces while remaining within a trading range.
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Cotton Incorporated
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