Cotton at a 140 year highs [SoftCommodities] - MarketTicker Forums


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User Info	Cotton at a 140 year highs in forum [SoftCommodities]
Lplate Posts: 4737 Incept: 2008-08-06 Australia	Great, will be starved and naked now Quote: January 26, 2011 http://www.theaustralian.com.au/business.... ....Benchmark cotton futures touched $US1.6789 a pound during intraday trading overnight. This is the highest level for the fibre in more than 140 years. Records from the Mississippi Historical Society show cotton fetched $US1.89lb during the peak of the US Civil War. Many commercial buyers, such as textile mills, have already struck preliminary agreements to buy a certain volume of cotton at an unspecified price, traders say. It is speculative investors that are behind the recent price rise, as commercial buyers await lower prices to lock in purchases. So far, this strategy is backfiring. “They're going to have to buy at some point,” said John Flanagan, president of Flanagan Trading in North Carolina, referring to mills. “Prices just keep going against them. They're like a deer frozen in the headlights.”... edited added chart Last modified: 2011-01-25 21:42:54 by lplate 2011-01-25 21:40:25 Permalink
Starvingartist Posts: 3430 Incept: 2011-01-03 Puff The Magic Dragon	Please tell me I won't end up in polyester. ---------- "The only solution that is mathematically sound is politically impossible. All the should's in the world ain't gonna change that." 2011-01-25 21:57:02 Permalink
Tesla Posts: 15542 Incept: 2008-04-03 State of Disbelief	Heh - what goes around comes around - from 1995 http://www.highbeam.com/doc/1G1-16935974.... Article: Polyester: back with a bang. NEW YORK - It's pricy and popular Polyester, the fiber that used to conjure up images of cheesy, double-knit leisure suits, is turning up on more content labels - from sportswear and eveningwear to outerwear and dresses. And this time, nobody's loath to admit they use it. Technological advancements in polyester - including microfibers, ESP (a stretch polyester developed by Hoechst Celanese) and recycled products - have designers once again embracing it. Throw in the fiber's durability and a yen for Seventies nostalgia, and everyone's getting into polyester. ---------- "Even a dog knows the difference between being stumbled over and being kicked." -Justice Oliver Wendell Holmes "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." -Samuel Adams 2011-01-26 12:37:40 Permalink