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Most cotton benchmarks decreased over the past month.

Cotton benchmarks were flat or lower over the past month.

Cotton benchmarks moved higher and then lower over the past month. Current values for most prices are near those posted one month ago.

The NY/ICE December contract pushed through resistance near 82 cents/lb around the middle of July. With the USDAS’s reduction to its U.S. production forecast, December prices climbed to levels near 90 cents/lb.

Over the past month, the NY/ICE December contract continued to trade sideways within the range between 77 and 85 cents/lb that has contained values since late November 2022. There was a test of the lower end of that range (closing prices dropped to 77.9 cents/lb on June 26th, which was the lowest level since December 2022)