Cotton Soars Daily Limit for Third Day on Tight Supply Concern – Bloomberg.com

Commodities , Cotton Mar 01, 2011 No Comments

Cotton futures surged by the daily limit for a third day in New York amid concern that global supplies will fail to keep pace with rising demand in China, the world’s biggest consumer.

The May-delivery contract rose 7 cents, or 3.7 percent, to $1.9823 a pound on ICE Futures U.S. at 4 p.m. Tokyo time. The fiber, which reached a record $2.0893 on Feb. 18, gained 14 percent last month. Zhengzhou futures in China also jumped.

via Cotton Soars Daily Limit for Third Day on Tight Supply Concern – Bloomberg.com.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.