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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United StatesUS Prospective Plantings - Cotton fell to 10.67M in March 2024
FMPMonthlyReleased March 2024
US Prospective Plantings - Cotton fell to 10.67M in March 2024, down 0.58M from February's 11.26M reading. The reading matched the 10.91M consensus.
Latest Release
10.673000
Actual
10.906000
Consensus
11.256000
Previous
Median Absolute Error
±0.18 million
across last 4 releases
Last Call
Mar 2024
Predicted: 10.91
Actual: 10.67
Error: +0.23
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.50 | INDEX | Bullish Stocks | → View |
| EUR/USD | ▼ Inverse | −0.45 | FOREX | Bearish EUR | → View |
| USD/JPY | ▲ Direct | +0.40 | FOREX | Bullish USD | → View |
| XAU/USD | ▼ Inverse | −0.35 | COMMODITIES | Bearish Gold | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Prospective Plantings - Cotton (United States) was reported at 10.67 million in March 2024. This missed the market consensus of 10.91 million by 0.23 million. The reading fell from the previous value of 11.26 million.
WHY IT MATTERS
The indicator has been trending downward over the last three releases.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with S&P 500 (Bullish Stocks). A secondary relationship exists with EUR/USD, negatively correlated (Bearish EUR).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include NY Empire State Manufacturing Index (Jun 15) and Industrial Production MoM (Jun 15).
Auto-generated from current model state · Refreshes on each release · Last update March 2024.
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Prospective Plantings - Cotton - US
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About Prospective Plantings - Cotton — United States
DEFINITION
Prospective Plantings - Cotton is a key financial indicator that provides insight into the future supply and demand of cotton in the agricultural market. It is a report released by the United States Department of Agriculture (USDA) that outlines the estimated acreage that farmers intend to plant with cotton for the upcoming growing season. This information is crucial for investors, traders, and cotton producers as it can impact the price and availability of cotton in the global market. The Prospective Plantings report is highly anticipated and closely monitored by industry experts to make informed decisions and projections in the cotton market.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Mar 2024): actual 10.67 M, consensus 10.91 M. Prior reading (Mar 2023): 11.3 M. Before that (Mar 2022): 12.23 M.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with S&P 500 (Bullish Stocks, r=0.50) — a useful reference for index-focused traders.