"Cotton’s 2020 year begins with a bullish tone with strong upside fundamental potential compared to 2019. The little bull has its legs and has demonstrated some flair with a current seven month high in prices. It is time to continue north to higher prices. Let’s review some of the Bullish and Bearish factors facing 2020. Granted, I will miss some," said O.A. Cleveland in his weekly cotton report.
Here's his outlook for the coming year:
The favorable technical and fundamental factors favor higher prices as the factors indicate. Both old crop and new crop contracts favor a breach of 75 cents. Prices for both market years have to potential to move to 77 cents or above.
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