Changing Consumer Tastes Are Likely Permanently Changing Orange Juice, Cotton Futures Prices

Frozen concentrated orange juice (FCOJ) prices are poised to close out the month of April at the lowest level in over four years. The FCOJ market has seen a dramatic decline in prices over the past 20 months. After reaching a record high of $5.89 a pound, basis nearby futures, in September 2024, nearby FCOJ prices (OJK26) are presently trading around $1.47 a pound. Changing consumer tastes, including a greater focus on health, have been the death knell for the FCOJ market. There has been rising consumer awareness of the negative health effects from consuming high-sugar drinks like orange juice….