Cotton prices are projected to remain range-bound in the near term due to large stocks held by China, coupled with depressed prices among all agricultural commodities.
“We’ve been stuck in the 60-cent to 67-cent range for a while now,” said Dr. John Robinson, Texas A&M AgriLife Extension Service cotton marketing economist. “In fact, futures have dipped to 58 cents. There are a lot of similar things that were going on in 2015 that repeating in 2016.”