I don't pay much attention when I fold for storage. When I pull out yardage, I leave the bulk on my table and only handle the front part that needs to be cut. I jiggle the selvages until the piece hangs straight. Then I double fold, smooth it out, trim the edge square and cut my strips.
One thing I found works better for me (read that somewhere):
If I need 4 strips @2.5" each, I do the math how much that is total. In this case, I cut one strip at 10" and sub-cut that into my 4 strips. It DOES make a difference.