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Yahoo
3 hours ago
- Business
- Yahoo
Did Cotton Prices Just Hit a Bottom After Falling to a 9-Week Low?
July ICE cotton futures (CTN25) were under modest selling pressure on Wednesday and slipped to a nine-week low below 65 cents a pound. The overall technical posture for the cotton futures market favors the bears as prices are in a seven-week downtrend on the daily bar chart. However, there are also some early, bullish clues that the cotton market has forged a price bottom. Since scoring a contract low of 62.05 cents a pound on April 4, July cotton futures have chopped in a sideways trading range. This is likely 'basing' action on the daily chart that has put in a price bottom. Coffee Prices Plummet on an Improved Supply Outlook Coffee Prices Sink on the Outlook for Ample Supplies Can Soybean Prices Keep Trending Higher? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! With a price bottom likely in place, the cotton bulls now need some bullish fundamental news to start a price uptrend. Last week's monthly USDA supply and demand report had some price-friendly elements for the cotton market. The 2025/26 marketing year U.S. cotton balance sheet was revised to show lower production, beginning stocks, and ending stocks, with consumption, imports, and exports unchanged from last month. U.S. harvested area was lowered 2% to 8.19 million acres following extensive rainfall and delayed planting in the Delta. The national average yield for 2025/26 was reduced more than 1% from last month's report, to 820 pounds per harvested acre, also because of the conditions in the Delta. As a result, U.S. cotton production was forecast down 500,000 bales, to 14.0 million, and is below the 14.4 million bales produced in 2024/25 and the second-smallest crop in the past decade. Beginning U.S. stocks for the 2025/26 marketing year were reduced 400,000 bales following a corresponding increase in projected U.S. exports for 2024/25. As a result, 2025/26 ending stocks were lowered 900,000 bales to 4.3 million, for a stocks-to-use ratio of 30.3%. The projected season-average price for 2025/26 was unchanged in the USDA June report, at 62 cents per pound. For the 2025/26 marketing year, USDA forecast downwardly revised global cotton production, consumption, beginning and ending stocks, and world trade. World production was lowered over 800,000 bales as a 1-million-bale increase for China was more than offset by reductions for India, the United States, and Pakistan. Global consumption was reduced by over 300,000 bales for 2025/26. Beginning world cotton stocks for 2025/26 were lowered over 1.1 million bales, largely reflecting a 1-million-bale reduction in India's 2024/25 crop. As a result, global ending stocks for 2025/26 were lowered by nearly 1.6 million bales, primarily reflecting the reduction in beginning stocks and a decrease in production that exceeds the decrease in consumption. USDA's June supply and demand report also showed the agency forecast 2024/25 China cotton imports at the lowest level in eight years, at 5.5 million bales – roughly one-third of last year's volume. 'Several factors have pressured demand: the highest domestic production in nearly a decade, lower consumption, and less demand for government reserves.' China's 2024/25 cotton production is estimated nearly 4.7 million bales higher, at 32.0 million bales, on record yields in the Xinjiang autonomous region. Meanwhile, consumption is projected to fall nearly 2.0 million bales, to 37.0 million. At the start of the marketing year, the volume of foreign cotton in bonded warehouses was at the second-highest level for data going back to 2015. Therefore, plentiful supplies coupled with lower operating rates have driven down imports. Chinese companies are shifting production to their Vietnamese mills, spurring greater cotton consumption and imports in Vietnam. USDA's 2025/26 global outlook sees world cotton production forecast down 800,000 bales, to 117.0 million, as smaller crops in India, Pakistan, and the United States more than offset a larger crop in China. Global consumption is forecast down 300,000 bales, to 117.8 million, on lower supplies but remains the highest level in five years. USDA lowered global cotton ending stocks by 1.6 million bales, to 76.8 million, on lower production and beginning stocks in the United States. There's an old trading adage: 'Never short a dull market.' The past five weeks have seen choppy and sideways price action in July cotton futures. The price-bullish basing price action I mentioned above has arisen from the dull market conditions. Still, the cotton market needs a jolt of bullish fundamental news to generate a solid price uptrend. The U.S. stock indexes have been trending up and recently hit multi-month highs. That's bullish for cotton. The down-trending U.S. Dollar Index and up-trending crude oil prices are bullish 'outside-market' factors for the natural fiber. However, what the cotton market bulls really needs is a continued thawing in U.S.-China trade relations (China is a major cotton importer) and some drier and hotter weather in U.S. cotton regions — namely Texas. Both elements are entirely possible in the coming weeks. My bias is that the cotton futures market has put in a major price bottom, but prices will continue to chop sideways until some fresh, bullish fundamental news arises to start a new price uptrend. I think that news will come sooner rather than later. On the date of publication, Jim Wyckoff did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
11 hours ago
- Business
- Time of India
Why is US breeding flies in Texas, near Mexico border
The U.S. government has announced plans to open a facility in Texas by year's end to breed millions of sterile New World screwworm flies, aiming to protect American cattle from a flesh-eating parasite that has reemerged in southern Mexico. Tired of too many ads? go ad free now The $8.5 million facility, to be built at Moore Air Base near the Mexican border, will release sterile male flies to mate with females, preventing the production of larvae that feed on living tissue. Agriculture Secretary Brooke Rollins, speaking at a news conference alongside Texas and cattle industry officials, emphasized the urgency of the initiative. 'The United States has defeated NWS before, and we will do it again,' she said, referencing the successful eradication of the screwworm in the U.S. during the 1960s. The new facility will be only the second of its kind in the Western Hemisphere, joining one in Panama that produces about 100 million sterile flies weekly. The screwworm's recent spread in southern Mexico, detected as close as 700 miles from the U.S. border, prompted the U.S. to suspend imports of live cattle, horses, and bison from Mexico last month. The U.S. Department of Agriculture also plans to invest $21 million to convert a fruit fly-breeding facility near Mexico's border with Guatemala into one for screwworm flies, though it won't be operational for 18 months. The Texas facility could produce up to 300 million flies per week, significantly bolstering efforts to curb the parasite's northward migration. The National Beef Cattlemen's Association president, Buck Wehrbein, underscored the economic threat to ranchers, noting that Moore Air Base previously hosted a similar facility in the 1960s. 'The only way to protect the American cattle herd from the devastating threat of New World screwworm is by having a sufficient supply of sterile flies to push this pest away from our border,' he said. Tired of too many ads? go ad free now Mexican Agriculture Secretary Julio Berdegué welcomed the plan, calling it a 'positive step' for U.S.-Mexico cooperation in a post on X. He expressed optimism that cattle exports could resume soon based on USDA inspections. The screwworm, which can infest any mammal including pets and occasionally humans, poses a broader risk. Kansas Animal Health Commissioner Justin Smith highlighted concerns about wildlife, such as feral pigs and deer, potentially carrying the parasite across borders unchecked. Texas officials praised the federal response, while other states remain vigilant, emphasizing the need for sterile flies to outnumber fertile ones to halt the pest's advance.
Time Out Dubai
12 hours ago
- Entertainment
- Time Out Dubai
Brunch with a side of live music and sweeping city views? Yes, please
We don't know about you, but brunching on the 52nd floor with live music is high up on our list of the wonderful things that make Dubai, Dubai. That's what's awaiting you at Prime52's new Live Lounge Brunch. It's all happening indoors, so it's perfect for the season right now. Perched on the 52nd floor of Dubai Marriott Harbour Hotel & Suites, this modern steakhouse now plays host to a Saturday affair that combines a four-course brunch with skyline vistas and a three-piece band that's sure to elevate your weekend mood. Running every Saturday from 1pm to 4.30pm, you'll start with warm bread and moreish accompaniments, followed by a generous raw selection that includes oysters, prawn cocktail, scallop carpaccio, tuna tartare and a delicately prepared Angus beef carpaccio. From there, it's on to sharing-style starters with highlights like burrata and tomato tartare, mushroom croquettes with truffle mayo, and buttery braised beef rolls. Not in a rush? Perfect – this brunch was designed for lingering (and enjoying the air conditioned indoors). Mains offer a little something for everyone: USDA tenderloin, cedar wood roasted salmon, gnocchi, or baby chicken, all flanked by hearty sides like homemade fries with béarnaise and grilled vegetables. And if you've got room (make sure you do), the dessert trolley is worth making space for, with New York cheesecake, chocolate mousse, pecan tart and a few more sweet favourites in the mix. Choose your package Soft package: Dhs345 House beverage package: Dhs445 Premium beverage package: Dhs545 Bubbly package: Dhs765 If this sounds like a great way to spend a Saturday afternoon, start making your plans. Book now: +971 4 319 4000 or email welcome@ Discover specials: From Dhs345. Every Saturday, 1pm-4.30pm. Dubai Marriott Harbour Hotel & Suites, Dubai Marina, @prime52dxb (04 319 4000).
Yahoo
15 hours ago
- Health
- Yahoo
Officials step up plans to combat flesh-eating screwworm
Texas officials are stepping up their plans to stop the spread of a flesh-eating parasite, [Reuters reports]( The parasite, known as the New World screwworm (Cochliomyia hominivorax), has triggered a public health emergency in Costa Rica, prompting experts to warn Canadian travellers to take precautions. State-side, Texas officials said Wednesday they are building a sterile fly dispersal facility. The Department of Agriculture also announced plans for a sterile fly production facility at Moore Air Base, which could take two to three years to construct. New World screwworm (NWS) was eradicated from the U.S. in 1966, but the current health emergencies in central America and Mexico have seen the parasite moving northward. On its website, the U.S. Department of Agriculture's Animal and Plant Health Inspection Service (APHIS) says it has been partnering with other USDA agencies, including the U.S. Department of State, the Food and Agriculture Organization of the United Nations, and affected countries to combat the outbreak. "APHIS is investing $109.8 million to combat new NWS detections in Central America and Mexico to keep the pest from spreading into North America," the agency's website reads. "With this funding, APHIS aims to eradicate NWS in Central America and Mexico and re-establish the biological barrier." On Wednesday, U.S. Agriculture Secretary Brooke Rollins said the USDA is also working with state animal health officials to draft an emergency response and stockpile medications in case NWS breaches the border, according to Reuters. In March, infectious disease specialist Dr. Issac Bogoch took to X to spread awareness and warn Canadians, especially those travelling to destinations like the Dominican Republic, Costa Rica, and Mexico. "The "barrier" preventing New world screwworm flies (Cochliomyia hominivorax) from spreading north of Panama has been breached," The Toronto-based doctor said on social media. "We recently cared for a patient who contracted this infestation on a trip to Costa Rica." Despite what its name suggests, the New World screwworm is not a worm at all—it is a species of parasitic fly. Female screwworm flies lay their eggs in open wounds, scrapes, or insect bites on people and animals. When the eggs hatch, the larvae burrow into the flesh, feeding on living tissue and potentially causing serious wounds, infections, and even death if left untreated. Infections occur primarily in livestock but people can and do get infected, including an 80-year-old Canadian male traveller who went to a Toronto hospital with an NWS infection (also called myiasis) after visiting Costa Rica. Speaking with CP24, Dr. Bogoch said NWS is a public health issue that can also impact food security. 'This infection can decimate wildlife and livestock,' he told the news outlet. NWS is commonly found in Cuba, Haiti, the Dominican Republic, and South American countries but (APHIS) says cases are spreading to Costa Rica, Nicaragua, Honduras, Guatemala, Belize, El Salvador and Mexico, beyond a biological border that had previously contained the spread. The agency says there has been an "explosion" in NWS detections in Panama. In 2023 cases went up from an average of 25 cases annually to more than 6,500 cases in one year. (APHIS/ APHIS and Panama co-managed the biological border that "successfully" contained the pest in South America for "decades," APHIS says on its website. The now-breached barrier resides in the eastern portion of Panama. The outbreak declarations in Costa Rica and Mexico have triggered emergency responses in the United States, Mexico, and Costa Rica, which first declared an NWS emergency in February. According to the U.S. Centers for Disease Control and Prevention, you can become infected if: You travel to affected areas (like Costa Rica, Nicaragua, or Mexico); You have open cuts, sores, or scratches; You come into contact with livestock or wildlife carrying the parasite. Canadian travellers can protect themselves by: Covering any cuts or scratches with clean, dry bandages; Using insect repellent, especially on exposed skin; Wearing long sleeves and pants in rural areas or places with plants and trees; Avoiding close contact with stray animals or livestock; Consulting a travel health clinic and a medical professional before travelling. There are no vaccines or medications that prevent infection. If you suspect infection: Seek medical attention immediately. Do not attempt to remove larvae yourself. Treatment usually involves the extraction of the larvae and prescription antibiotics. The parasite typically needs warm conditions to survive and Canada's cooler climate acts as a natural barrier. This parasite is not currently found in Canada, but with travel-related cases increasing and the barrier that once stopped its spread now breached, Canadians heading south should be on alert. Always check travel health advisories and when in doubt, speak to a medical professional before travel. Header image: File photo of new age screwworm larvae (CDC].
Metro
15 hours ago
- Health
- Metro
Millions face junk food ban as three US states join crackdown on snacks
Caroline Westbrook Published June 19, 2025 2:26pm Link is copied Comments Millions of people across the US are facing a crackdown on junk food, after a further three states confirmed they would ban those who claim SNAP benefits from using them to buy sugary drinks and snacks. U.S. Agriculture Secretary Brooke Rollins has approved waivers for Arkansas, Idaho and Utah - joining Indiana, Nebraska, Texas and Iowa - to amend the statutory definition of food and drink which is eligible for purchase under the program (Picture: Getty Images) SNAP - which stands for Supplemental Nutrition Assistance Program, and which was formerly known as food stamps - is currently claimed by 41.6m Americans on low incomes. Recipients can use their benefits at selected grocery stores and restaurants. According to the USDA they can be used to buy any food for the household, including meat, poultry and fish, fruits and vegetables, dairy products, breads and cereals, snack foods, non-alcoholic drinks and seeds or plants which can be used to produce food. They cannot be used to purchase alcohol, tobacco, vitamins and supplements, pet foods, cleaning supplies or any food which is hot at the point of sale (Picture: Getty Images) However the new restrictions will prevent people from using SNAP to pay for products such as candy bars and potato chips. Sodas and sugary drinks will also face a clampdown, with any non-alcoholic drinks made with water that also contain more than five grams of added sugar, or any amount of artificial sweetener, will be off-limits. Milk-based drinks and fruit juice will not be included in the ban (Picture: Getty Images) The rules will, however vary from one state to the next. In Nebraska, for example, only soda and energy drinks will be banned, whereas in Iowa snacks, candy and sweetened drinks will all be unavailable to purchase with SNAP benefits. Those who claim them will still be able to purchase the items for the time being - as the waivers in Utah, Idaho, Nebraska, Indiana and Iowa will take effect from January 1 2026, while the new rules will apply in Arkansas from July 1 2026. Meanwhile the Texas Tribune has reported that the ban there could go into effect as soon as September 1 (Picture: Getty Images) The move comes as Republican legislators attempt to improve the eating habits of Americans. Rollins said in a statement: 'The Trump Administration is unified in improving the health of our nation. America's governors have proudly answered the call to innovate by improving nutrition programs, ensuring better choices while respecting the generosity of the American taxpayer' (Picture:) Meanwhile Health Secretary Robert F Kennedy Jr has advised all state governors to follow suit and eliminate sugary drinks from the SNAP program, saying 'Taxpayer dollars should never bankroll products that fuel the chronic disease epidemic' (Picture:) It follows Kennedy Jr's push to have synthetic dyes removed from US food, in his bid to make the nation's diet healthier. The politician said in a press release: 'For too long, some food producers have been feeding Americans petroleum-based chemicals without their knowledge or consent. These poisonous compounds offer no nutritional benefit and pose real, measurable dangers to our children's health and development' (Picture:)
