卓创资讯：Spring Festival holiday USDA outlook report is bullish, cotton prices open higher

During the Spring Festival holiday, USDA released its annual cotton outlook report. The global cotton production for 2026/27 is expected to decrease by 3%, reaching 116 million bales, due to reduced planting area and yields in major cotton-producing countries. Meanwhile, supported by a stable trade environment and accelerating economic growth, global cotton consumption is projected to increase by 1%, reaching 120 million bales. Additionally, there is a possibility of a decline in domestic new season cotton planting area, leading to a significant rise in cotton prices on the first day after the holiday. Zhengzhou cotton main contract broke through 15,100 yuan/ton, reaching a new annual high. (Zhuochuang Information)