The cotton market popped to a 5.5-month high this week on fears that Hurricane Irma will seriously damage the southeastern U.S. cotton crop, as well as worries that Hurricane Harvey damaged the Texas and Louisiana cotton crops. However, the majority of the price move in the cotton market has likely already occurred, even before Irma strikes the U.S. mainland. Remember that futures markets factor in expected events well before they actually play out. Stay tuned!–Jim
