An ag economist says the cotton market took a hit in 2022, but the long-term outlook is more promising.
Rob Fox, Director of CoBank Knowledge Exchange tells Brownfield cotton demand is falling as more countries face economic downturn.
“Of all the ag commodities, cotton is most sensitive to income levels across the world because clothing, draperies and so forth are very discretionary.”
He says global textile companies have cut back orders, driving the price down, but he expects smaller plantings and contraction of the forecasted global supply next year.
