Read this today:
NEW YORK—Cotton prices hit an all-time high, edging toward $2 a pound and raising the question of whether the fiber's soaring cost will cool demand.
Cotton for March delivery touched $1.9445 a pound in InterContinental Exchange trading on ongoing concerns that demand will outpace supplies. Prices settled up 1.3%, or 2.39 cents, at $1.8997 a pound as some speculators locked in profits.
Strong demand, particularly from China, and tight supplies have pushed cotton prices up 31% this year. The price has more than doubled over the past 12 months.
The rally puts mills that have purchased cotton "on call"—without fixing .