Cotton QuickTake September 14, 2026

Cotton ended last week on shaky ground after Friday’s sharp sell-off erased most of the gains made earlier in the week. 

AI-assisted narration and summarization based on original reporting and data from PCCA.

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SPEAKER_00 0:00

Welcome to Cotton Quick Take by PCCA, your short weekly update on the factors shaping cotton markets and the broader agricultural economy. Thanks for joining us. Let's take a quick look at what's moving the market this week. Cotton ended last week on shaky ground after Friday's sharp sell-off erased most of the gains made earlier in the week. December futures climbed as high as 88.80 cents per pound before falling more than 2 cents Friday to settle at 86.06. Managed money also became net sellers after five straight weeks of buying, signaling that some of the momentum from August may be cooling. Here, with more insight, is PCCA's chief economist, Abigail Holsher.

SPEAKER_01 0:38

There's been plenty of uncertainty in the cotton market recently. Last week was a busy week where data was concerned, and this week is expected to be a busy week as well. We'll have the Fed decision on Wednesday, and then we have the US-China meeting next week, where we expect there to be plenty of headline volatility surrounding it. And then from a fundamental standpoint, we've also seen export sales be a little bit slower than what the market would like. However, I don't think that impacts the long-term price picture. Last week, USDA lowered the US crop to 13.2 million bells. And based on the crop condition report and then what we're seeing in our own surveys, we suspect that number could go lower, with most of it stemming from the Southwest. So all that to say, a tighter supply, and then there's still some encouraging pieces where demand is concerned for the 2026 crop. We think longer term, the longer-term price picture is more encouraging than what the recent price action has suggested.

SPEAKER_00 1:26

On the supply side, USDA lowered the U.S. crop in its September supply and demand report. Production was cut 3% to 13.2 million bales, while ending stocks fell to 3.6 million. Crop uncertainty remains, particularly in the Southwest, where heat and drought have raised questions about yields and abandonment heading into harvest. Demand, however, remains a key concern. Upland sales improved to 73,900 bales on the weekly export report, nearly tripling the previous week's total, but remain below the pace the market would like to see. The recent pullback in prices may have encouraged some buying, but stronger sales will be needed to provide meaningful support.

SPEAKER_02 2:10

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SPEAKER_00 2:34

Outside markets will also be in focus this week with the Federal Reserve's rate decision and upcoming U.S. China discussions, providing potential direction for cotton and the broader commodity markets. Thanks for listening to Cotton Quick Take by PCCA. Be sure to join us next week for another quick update on the markets and the stories shaping the cotton industry.