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Home / Futures Blog / Cotton futures continue uptick

Cotton futures continue uptick

February 11, 2011 by Daniels Trading

The world's insatiable appetite for cotton helped push up the soft fiber's futures to record highs for a third straight day, Bloomberg reports.

For week ended February 3, shipments of the commodity from the U.S. – the globe's largest cotton exporter – shot up 26 percent as compared to the week prior, the U.S. Agriculture Department reported on Thursday. During the past 365 days, cotton futures have at least doubled, largely because of inclement weather in China, which is the largest consumer of cotton.

"The U.S. export sales showed that despite the high price of cotton, demand isn’t dipping," Ker Chung Yang, an analyst at Phillip Futures of Singapore, told the news service.

Shortly after 2 p.m. on Friday, cotton futures were up 1.53 percent, a 2.87 cents to $1.9045 per pound.

One consultant said she would not be surprised to see cotton futures climb to $2 per pound, but she did not specify when. She predicted more of the commodity will be cultivated.

"We will see a huge increase in planting globally because of the way cotton has run up, and that will gradually start pressurizing prices," Judith Gaines-Chase of Katonah, New York told the news service.

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Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Archived News

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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