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BAL - Cotton - A Bullish Pattern But Danger Is Lurking
iPathA Series B Bloomberg Cotton Subindex Total Return ETN
Cotton is a member of the soft commodities sector of the raw materials asset class. I last wrote about cotton on Seeking Alpha on May 9, when the price of the fluffy fiber was trading around the 57-58 cents per pound level on the December futures contract on the Intercontinental Exchange. December futures fell to a low of 50.18 cents on April 2. The continuous contract low was at 48.35 cents, the lowest price in over a decade since 2009.
Meanwhile, the cotton market staged an impressive recovery as the price recently traded to a