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Cottonseed Hulls Prices, Demand and Supply Overview
Australia paid the most for cottonseed hulls in Q3 2026: USD 172/MT, up 1.2% from USD 170/MT in Q2. Long transport distances, drought feeding needs and steady demand from dairy and cattle feeders keep Australian prices above the other three markets. Worldwide, the average rose 1.5% to USD 138/MT from USD 136/MT, mostly because higher prices of hay and other roughage and firm demand from dairy and cattle feeders led ginners and oil mills to raise prices in all four markets. What about Q4 2026? We expect a global average somewhere in the USD 135-145/MT range, with cotton harvest size, ginning volumes, prices of hay and demand from dairy and cattle feeders doing most of the work.
Cottonseed hulls are the outer shells of the cottonseed, removed when the seed is processed for oil and meal. They are a bulky, high fiber roughage fed to dairy and beef cattle, often mixed with other feed. Prices in this report refer to cottonseed hulls in bulk and are quoted per metric ton. They depend on the size of the cotton crop, prices of hay and demand from cattle feeders.
Supply follows cotton ginning and oil milling in India, China, the United States, Pakistan and Australia, so it is set by the cotton crop and not by feed demand. Hulls are bulky and cheap, which makes transport the main cost, and most are sold within a short distance of the mill. Buyers use them when hay and silage are costly.
Cottonseed Hulls Price Forecast for 2026
Prices should rise modestly through the rest of 2026. Hay prices are firm, demand from cattle feeders is steady and the new cotton crop is smaller in some regions. Ample stocks at mills limit the size of the increase. For reference, the Q3 2026 global average of USD 138/MT compares with USD 132/MT a year earlier, an increase of 4.5%.
The risks for Q4 are balanced, with no clear tilt either way. What could push prices higher? A smaller cotton crop, higher hay prices or stronger demand from cattle feeders would lift prices. What could pull them lower? A larger cotton crop, cheaper hay or weaker demand from dairy farms would lower prices.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 135 - 145 | Firm hay prices support a modest rise |
| India | 100 - 110 | Large ginning output keeps prices lowest |
| United States | 120 - 130 | Hay prices and feedlot demand support prices |
| China | 145 - 160 | Growing cattle feed demand supports prices |
| Australia | 170 - 180 | Long haul distances keep prices highest |
For the Quarter Ending September 2026
Cottonseed Hulls Prices Q3 2026:
- India: USD 105/MT
- United States: USD 125/MT
- China: USD 150/MT
- Australia: USD 172/MT
Cottonseed Hulls Prices in India
India rose 1.9% to USD 105/MT in Q3 2026, from USD 103/MT in Q2. Indian prices rose as the demand from dairy farms improved. Measured against Q3 2025, when the average stood at USD 100/MT, the market is 5.0% higher. The price in India was 23.9% below the group average of USD 138/MT in Q3 2026.
Why did the price of Cottonseed Hulls change in Q3 2026 in India?
India rose. Demand from dairy farms improved, trucking costs increased, and ginners raised prices. Across the first three quarters of 2026, India has moved up 4.0% from USD 101/MT in Q4 2025 to USD 105/MT, against a 3.0% gain for the global average. For comparison, the global average moved 1.5% higher over the same quarter.
Cottonseed Hulls Prices in United States
In Q3 2026, the average price in the United States rose 1.6% to USD 125/MT, compared with USD 123/MT in Q2. American prices rose as the demand from feedlots improved. In Q3 2025 the average was USD 120/MT, so the market is 4.2% higher on a yearly basis. The gap to the four-market average of USD 138/MT was 9.4% below for the United States.
Why did the price of Cottonseed Hulls change in Q3 2026 in United States?
The United States rose. Demand from feedlots improved, hay prices increased, and oil mills raised prices. Year to date, the United States is 3.3% higher than the Q4 2025 level of USD 121/MT, while the global average is 3.0% higher. The global average shifted 1.5% higher in the same quarter. This represents a quarter-on-quarter change of 1.6% for the United States.
Cottonseed Hulls Prices in China
China's average moved up 1.4% in Q3 2026, to USD 150/MT from USD 148/MT in Q2. Chinese prices rose as the demand from cattle farms improved. This represents a 4.2% increase on the USD 144/MT recorded in Q3 2025. Relative to the four-market average of USD 138/MT, China traded 8.7% above in Q3 2026.
Why did the price of Cottonseed Hulls change in Q3 2026 in China?
China rose. Demand from cattle farms improved, import costs increased, and traders raised offers. Over the first nine months of 2026 the price in China has risen by 2.7%, which compares with a 3.0% gain in the global average. Across the four markets the average was 1.5% higher on the quarter. China moved 1.4% quarter on quarter.
Cottonseed Hulls Prices in Australia
Prices in Australia firmed 1.2% in Q3 2026 to USD 172/MT, compared with USD 170/MT in Q2. Australian prices rose as the demand from dairy and cattle feeders improved. The year-on-year change is a 4.2% increase, from USD 165/MT in Q3 2025. This places Australia 24.6% above the four-market average of USD 138/MT for Q3 2026.
Why did the price of Cottonseed Hulls change in Q3 2026 in Australia?
Australia rose. Demand from dairy and cattle feeders improved, transport costs increased, and ginners raised prices. Since the end of 2025, the price in Australia has risen 3.0%, from USD 167/MT to USD 172/MT, while the global average has risen 3.0%. On the global measure the average was 1.5% higher over the quarter.
For the Quarter Ending June 2026
Cottonseed Hulls Prices Q2 2026:
- India: USD 103/MT
- United States: USD 123/MT
- China: USD 148/MT
- Australia: USD 170/MT
Cottonseed Hulls Prices in India
Prices in India firmed 1.0% in Q2 2026 to USD 103/MT, compared with USD 102/MT in Q1. Indian prices rose as the demand from dairy farms strengthened. Taking Q2 2025 as the base, at USD 98/MT, the latest quarter is 5.1% higher. The four markets averaged USD 136/MT in the quarter, so the price in India was 24.3% lower.
Why did the price of Cottonseed Hulls change in Q2 2026 in India?
India rose. Demand from dairy farms strengthened, trucking costs went up, and ginners lifted prices. After a 1.0% gain in Q1, the quarter closed 5.1% above the USD 98/MT recorded in Q2 2025. The same direction continued in Q3, with the price reaching USD 105/MT. On the global measure the average was 0.7% higher over the quarter.
Cottonseed Hulls Prices in United States
The United States recorded a 0.8% gain in Q2 2026, with the average reaching USD 123/MT against USD 122/MT in Q1. American prices rose as the demand from feedlots strengthened. Against the USD 118/MT recorded in Q2 2025, the current average represents a 4.2% increase. In comparison with the average of USD 136/MT across the four markets, the price in the United States was 9.6% lower.
Why did the price of Cottonseed Hulls change in Q2 2026 in United States?
The United States rose. Demand from feedlots strengthened, hay prices went up, and oil mills lifted prices. This came on top of a 0.8% gain in Q1, and the average ended 4.2% above its level of a year earlier, when it stood at USD 118/MT. Q3 added to the change, with the price at USD 125/MT.
Cottonseed Hulls Prices in China
The Q2 2026 average for China stood at USD 148/MT, an increase of 0.7% on the USD 147/MT recorded in Q1. Chinese prices rose as the demand from cattle farms strengthened. The Q2 2025 average of USD 142/MT puts the current price 4.2% above its level a year earlier. China ended the quarter 8.8% above the group average of USD 136/MT.
Why did the price of Cottonseed Hulls change in Q2 2026 in China?
China rose. Demand from cattle farms strengthened, feed costs went up, and traders lifted offers. Q1 had brought a 0.7% gain, and by the end of Q2 the price was 4.2% above the Q2 2025 average of USD 142/MT. The move then extended in Q3, taking the price to USD 150/MT. The global average shifted 0.7% higher in the same quarter.
Cottonseed Hulls Prices in Australia
Australia registered a 1.2% increase in Q2 2026, taking the average to USD 170/MT from USD 168/MT in Q1. Australian prices rose as the demand from feedlots strengthened. Year on year, the average is 5.6% higher, against USD 161/MT in Q2 2025. The price in Australia was 25.0% above the group average of USD 136/MT in Q2 2026.
Why did the price of Cottonseed Hulls change in Q2 2026 in Australia?
Australia rose. Demand from feedlots strengthened, transport costs went up, and ginners lifted prices. Coming after a 0.6% gain in Q1, the Q2 figure sits 5.6% above the USD 161/MT of Q2 2025. The same direction continued in Q3, with the price reaching USD 172/MT. Across the four markets the average was 0.7% higher on the quarter.
Quarterly Cottonseed Hulls Price Trends
Cottonseed Hulls prices rose through 2025 and the first half of 2026 and rose again in the third quarter in all four markets. The global average moved from USD 128/MT in Q1 2025 to 130 in Q2, 132 in Q3 and 134 in Q4, then 135 in Q1 2026, 136 in Q2 and 138 in Q3, a net gain of roughly 7.8% across the window. Higher hay prices and steady demand from dairy and cattle feeders lifted prices for six quarters.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q3 2026 | 138 | +1.5% | ↑ Rising |
| Q2 2026 | 136 | +0.7% | ↑ Rising |
| Q1 2026 | 135 | +0.7% | ↑ Rising |
| Q4 2025 | 134 | +1.5% | ↑ Rising |
| Q3 2025 | 132 | - | - Stable |
| Q4 2026 | In Progress | - | - In Progress |
What was Cottonseed Hulls Price in 2025?
2025 was a year of gradual increases for cottonseed hulls, with prices rising in each quarter in all four markets. Starting near USD 128/MT in Q1, the global average finished the year at 134 in Q4, a gain of about 4.7%. Higher hay prices and steady demand from dairy and cattle feeders supported ginners and oil mills throughout the year.
Cottonseed Hulls Prices in India in 2025
In India, prices moved from about USD 97/MT in Q1 2025 to USD 101/MT by Q4, up roughly 4.1%. Indian prices rose gradually as trucking costs and demand from dairy farms increased. The Q4 2025 close of USD 101/MT compares with USD 105/MT in Q3 2026, a 4.0% increase. The quarterly sections above show how the annual average developed over the year.
Cottonseed Hulls Prices in United States in 2025
In the United States, prices moved from about USD 117/MT in Q1 2025 to USD 121/MT by Q4, up roughly 3.4%. American prices rose gradually as hay prices and demand from feedlots increased. Relative to the end of 2025, the price in the United States is 3.3% higher at USD 125/MT. The quarterly breakdown above allows each stage of that path to be traced.
Cottonseed Hulls Prices in China in 2025
In China, prices moved from about USD 140/MT in Q1 2025 to USD 146/MT by Q4, up roughly 4.3%. Chinese prices rose gradually as feed costs and demand from cattle farms increased. By Q3 2026 the average for China had reached USD 150/MT, 2.7% above the Q4 2025 close. The same regional pattern is carried into the quarterly analysis above, where the quarter-by-quarter figures can be traced.
Cottonseed Hulls Prices in Australia in 2025
In Australia, prices moved from about USD 159/MT in Q1 2025 to USD 167/MT by Q4, up roughly 5.0%. Australian prices rose gradually as transport costs and demand from feedlots increased. The latest quarter places Australia at USD 172/MT, which is 3.0% above the level at which 2025 ended. The quarterly sections above show how the annual average developed over the year.
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We keep a continuous eye on cottonseed hulls prices wherever it is produced or consumed at scale, tracing causation through cotton crop size, ginning volumes, hay prices, transport costs and demand from cattle feeders. Our forecasts draw on production data, trade flows, input cost trends and demand indicators across all reporting regions, so subscribers see why a price moved and not just that it did. Need pricing data, bespoke market analysis, or procurement advisory? Reach out to our team.
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Frequently Asked Questions About This Report
Dairy cattle feed, beef cattle feed and roughage in mixed rations.
In Q3 2026, it averaged USD 105/MT in India, USD 125/MT in the United States, USD 150/MT in China, and USD 172/MT in Australia. Australia was the priciest market.
The global average went from USD 134/MT in Q4 2025 to 135 in Q1, 136 in Q2 and 138 in Q3, up 3.0% overall. Gradual increases through 2025 and early 2026 continued in the third quarter.
Higher hay prices and firm demand from cattle feeders led ginners to raise prices.
We expect a global average somewhere in the USD 135-145/MT range. Firm hay prices and steady cattle feed demand point to a modest rise.
Australia sits at the top and India at the bottom. Australia pays the most on long haul distances, while India sits lowest on large ginning output.
Monthly. Need something more current? The Expert Market Research team is available directly.
Cotton crop size, hay prices, transport costs and feed demand drive the volatility.
India, China, the United States, Pakistan and Australia lead supply of cottonseed hulls.
Agree contracts with mills, compare prices with hay and diversify between sources.
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