Cotton futures continued the upward momentum in January, strengthening above 79 cents a bushel for the first time since December 2018 as optimism over coronavirus vaccine rollout bolstered hopes for a swifter economic recovery, and brightened the outlook for cotton demand. Cotton gained more than 10% in 2020.
Historically, Cotton reached an all time high of 1349 in September of 2020. Cotton - data, forecasts, historical chart - was last updated on January of 2021.
Cotton is expected to trade at 77.51 USd/Lbs by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 69.17 in 12 months time.