Analyst: Cotton Squeeze Is Combined with Speculative Position

November 29, 2016 03:11 PM
 
 

When Hurricane Matthew hit the southeast, cotton crops were destroyed in North Carolina for the second year in a row by wet weather. Now, the trade has realized the production story is in northwest Texas. However, that section of the Lonestar State is seeing its own harvest issues due to high wind.

According to John Payne of Daniels Trading, while there are harvest delays, there isn’t any problem with yields or production, it’s getting the product to where it needs to be.

“I think we could see a little bit of softening in price,” said Payne.

Listen to Payne discuss the advantage of increasing cotton acreage on AgDay above.

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