prices of cotton
05-17-2011, 01:10 PM
#1
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Location: Michigan
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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 .
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 .
05-17-2011, 06:01 PM
#7
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Join Date: May 2009
Location: Orchard Park, NY (near Buffalo, which is near Niagara Falls)
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For now, the price has peaked. We're no longer watching prices for March delivery (which was the highest point). We're looking further into the future now. For the latest info, here is a link to the U.S. Cotton Market Monthly Economic Newsletter dated May 13th, 2011: http://www.cottoninc.com/MarketInfor...conomicLetter/
05-18-2011, 05:39 AM
#8
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Join Date: Apr 2011
Location: Australia
Posts: 661
Originally Posted by Favorite Fabrics
For now, the price has peaked. We're no longer watching prices for March delivery (which was the highest point). We're looking further into the future now. For the latest info, here is a link to the U.S. Cotton Market Monthly Economic Newsletter dated May 13th, 2011: http://www.cottoninc.com/MarketInfor...conomicLetter/
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