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It looks like Georgia may be fortunate to escape the brunt of any Market Update
major impact on crop production: The visions of a return to 90-cent cotton appear to be fading. The
“I am relieved to say that with the current path of the storm, good news is that the market is clearly showing signs of good
impacts on most of Georgia are now expected to be support at roughly 82 cents. Support is a good thing; but prices
minimal. Eastern counties will still experience some wind (Dec futures) have struggled to clear a hurdle at 85 cents—we’ll
first have to clear 85 if we hope to reach 90. Producers looking for
an opportunity to add on to earlier sales, support is good but a
rally is even better.
US exports projected for the 2018 crop year were raised 200,000
bales from 15.5 million bales to 15.7 million. World demand is
strong but there is some skepticism within industry about whether
or not USDA is over-reaching a bit on its export number. 2017 crop
year exports were 15.85 million bales.
On the other hand, if you are already 50% or more priced, rallies
to the 85 cent area could be a good opportunity to add further to
sales—unless you want to take the risk of holding out for 85 to
90—but then realizing you’re also taking the risk that the current
level of support will hold.