Home > News > Cotton Farmers Face Damaging Hurricane Rainfall as Market Edges Higher

When Hurricane Delta made landfall late last week, it brought major rainfall to the Delta region, coming at a bad time for cotton farmers. Late-season heavy rainfall can damage the crop in later developmental stages, and speculation about that damage has in part fueled a rally in ICE cotton futures in the last three days. The December futures contract is now trading close to $70/pound, just shy of its highest levels in the last eight months. The bullish momentum has built and offset an increasing U.S. Dollar index, which is normally fundamentally bearish for cotton and other commodities. U.S. cotton farmers are just over one quarter of the way through harvest, according to Tuesday’s USDA Crop Progress report. See more on the latest cotton issues.

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