Most U.S. cotton futures settled higher on Tuesday, rallying with other commodities, especially crude oil, and the euro as investors found relief from European officials' agreement to a debt bailout deal for Greece.
Global commodity trading houses have long argued that their billion-dollar profits were rewards for taking risks, but this year's volatile cotton market has tested those arguments as farmers have defaulted, profits ha...
U.S. cotton futures slid their 7-cent limit Friday as a week of panic short-covering, which drove the March, May and July contracts limit-up in successive sessions, seemed to be exhausted, brokers said.
U.S. cotton futures rallied Friday to a 150-year peak on trade and speculative buying as very tight supplies were expected to push the market to the unheard of level of $2 a lb by next week, analysts said.
U.S. consumers wracked by a shaky economy and steep unemployment will likely think twice about buying clothes from retailers trying to pass on cotton prices that recently scaled a 150-year peak, analysts said.