This week’s Cotton Newsline is 5 cuts. All cuts are Mark Lange, President and CEO of the National Cotton Council.
Suggested Introduction 1:
The cotton market appears to be on an uptick with prices steady around $2. National Cotton Council President and CEO, Mark Lange, agrees and discusses how the different segments of the cotton industry have been affected by the current market.
Suggested Introduction 2:
Lange says cottonseed prices are attractive.
Suggested Introduction 3:
Lange believes most warehousers are ok, however they were emptied out fairly quickly.
Suggested Introduction 4:
According to Lange, a lot of textile mills in the U.S. booked their cotton before it hit $2.
Suggested Introduction 5:
Lange says the ones who have the highest anxiety right now are the merchants and marketing cooperatives who have sold a lot of cotton.
Lange says that the cotton industry has experienced a huge recovery in volume, for most segments, an improvement in profitability and there is at least an outlook of more of the same for the next 12 months.