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JJS - Cotton Tanks After WASDE And The Trade Dispute Escalates - A Volatile Fiber
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In 2011, the price of cotton reached an all-time high at $2.27 per pound. The rally took cotton futures to a lofty level as the fluffy fiber had not traded above $1.1720 before 2010 dating back to the early 1970s. The move to the highs caused manufacturers to abandon cotton as they replaced the fiber with synthetic materials. Production increased as the price of cotton rose, and inventories grew. As the price fell from 2011 through 2016 stockpiles of cotton in China and the US grew to a level where there was enough of the