FX.co ★ Cotton Futures at 8-Month Lows

Cotton futures continued to decline, reaching approximately 62.4 cents per pound, the lowest point since March. This decrease has been influenced by the strengthening US dollar and expectations of substantial supply. According to the USDA's World Agricultural Supply and Demand Estimates (WASDE) for November 2025, the forecast for US cotton production has been increased by 900,000 bales, bringing the total to 14.1 million. This adjustment is attributed to anticipated higher yields across most states, with the national average yield expected to rise by nearly 7% to 919 pounds per harvested acre. The projection for exports has also been increased by 200,000 bales to 12.2 million. On a global scale, cotton production is anticipated to grow by 2.4 million bales, with an increase of 1 million bales in China, approximately 900,000 bales in the United States, and 500,000 bales in Brazil. Meanwhile, global consumption is projected to rise by 50,000 bales.