"Complex price action" could mean more upward moves are ahead for U.S. cotton prices, according to University of Arkansas agricultural economist Bobby Coats.
Cotton could still reach 84 cents a pound this year, according to the technical analysis accompanying this week's commodity price charts.
"Complex price action underway with a bullish price objective into the 84-cent area stills remains in play," says Dr. Bobby Coats, professor of agricultural economics and agribusiness with the University of Arkansas System Division of Agriculture, who compiles the weekly price considerations.
"Fed verbal guidance and fiscal and trade policy considerations appear to have created some near term headwinds for cotton market prices," he said.
To read more of Dr. Coats analysis, see the accompanying charts.
