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Cotton Prices Highest In 10 Years

Cotton Farmers should see a few extra dollars in their pockets this year, or at least make up for a short crop thanks to rising prices.

Cotton futures are trading at their highest price in about a decade, with growing Chinese demand being met in part by rising U.S. exports to China, a curiosity of Trump-era trade-war policies.

Most active U.S. cotton futures trading on the Intercontinental Exchange closed Monday up 0.4% at $1.05 a pound, keeping prices at their highest level since September 2011.
Prices have risen 18% higher over the past 10 sessions. Higher clothing prices could eventually follow. Prices for other raw materials, such as lumber, have surged this year, because of high demand and supply-chain kinks that have kept goods from getting to customers who want them.

Prices for other U.S. crops, such as corn and wheat, have jumped this year amid drought conditions in the U.S. and abroad.

Cotton shows the sometimes unexpected effects that trade policy can have on prices.

 

Contact Jay Allen at [email protected]

 

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