ANZ’s Autumn Commodity InFocus report says global cotton markets remain under pressure as production is forecast at nearly 120 million bales, slightly above consumption, keeping prices subdued. In response, Australian cotton plantings have fallen by more than 100,000 hectares, with Queensland down 14% to about 140,000 hectares, while growers face irrigated production costs above $4,500 per hectare before overheads and tighter water conditions that may cap yields. ANZ notes scale and efficiency are increasingly important, with one producer estimating viable operations now need roughly 800 to 1,000 hectares per cotton picker versus 200 to 300 hectares two decades ago.

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