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Cotton Prices

Discussion in 'Business, Careers & Education' started by imageWIS, Feb 17, 2011.

  1. imageWIS

    imageWIS Senior member

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    I'm surprised no one has mentioned the increase of cotton prices and the impact it will have to clothing. Is there anyone here who trades in commodities that can give us a better insight if prices will increase or if eventually they will recede back down?
     
  2. Ataturk

    Ataturk Senior member

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    Cotton for the fabric is a much larger part of the cost in making, say, blue jeans, than it is in making a dress shirt. Or any fine clothing, really.
     
  3. ClambakeSkate

    ClambakeSkate Senior member

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    Shit's crazy right now. I'm not a trader but I work with cotton daily and it's just out of control. Wool and Leather prices are going up at unbelievable rates too. What's essentially happening is this: Now that China is super-rich and not everyone's bitch anymore, they're buying up huge lots of raw materials since they can buy them is such enormous quantities, that they basically control all of it. The next step they take (and I've heard this from several mills and tanneries that I work with it's happening more and more every day) is that the Chinese will buy the mills and tanneries. So they have a monopoly on raw materials and the production of finished goods. Then, of course, everything is made in China already, so they do all these backroom reach-around type deals with each other and everyone gets richer at an astounding rate. TL;DR: China is fucking us all over after being slaves to the rest of the modern world forever. Reparations: Kung-Fu Style. Chinese Cotton Hoarding in WSJ
     
  4. imageWIS

    imageWIS Senior member

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    Why does this feel like a massive bubble?
     
  5. SpallaCamiccia

    SpallaCamiccia Senior member

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    Why does this feel like a massive bubble?

    It's another bubble, ask your friends the socialists freemasons.. that control everything and the trilateral.
     
  6. Hannerhan

    Hannerhan Senior member

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    Why does this feel like a massive bubble?

    Because it is.
     
  7. hangthree

    hangthree Senior member

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    it feels like a bubble because its a commodity and the price has doubled in 6 months.

    also, a lot of strange weather has effecting many commodities -- ook at what has happened in australia.
     
  8. ter1413

    ter1413 Senior member

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    By Debarati Roy
    Feb. 17 (Bloomberg) -- Cotton topped $2 a pound in New York
    for the first time ever as accelerating global growth boosted
    demand for garments manufactured in China, the world's biggest
    consumer and importer, amid shrinking global supplies.
    China's apparel exports in January surged 34 percent from a
    year earlier to $13.38 billion, the Customs Bureau said this
    week. Stockpiles monitored by ICE Futures U.S. have plunged 84
    percent since June 1. Flooding in Australia and Pakistan and
    drought in Russia and other parts of Europe have reduced output.
    Textile mills are buying more fiber as the global economy
    recovered from the worst recession since World War II. Costs may
    rise for U.S. retailers including Gap Inc., J.C. Penney Co.
    because cotton has more than doubled in the past 12 months. Olah
    Inc., a U.S. apparel manufacturer that supplies Gap, said it
    raised prices for "several products."
    "The bulls have gone berserk, and it looks like they want
    prices to go higher," said Sid Love , the president of Joe Kropf
    & Sid Love Consulting Services LLC in Overland Park, Kansas.
    "China's demand still remains strong."
    Cotton for May delivery rose by the exchange limit of 7
    s, or 3.6 percent, to settle at a record $2.0193 on ICE
    res U.S. at 2:41 p.m. in New York. Prices have gained 39
    ent in 2011, the most of any of the 19 commodities in the
    son Reuters/Jefferies CRB Index.
    "There was short-covering by textile mills," said Mike
    ens, an independent trader in Mandeville, Louisiana.
    Trading in cotton options was halted by the exchange, which
    rmined that the synthetic price change for contracts was at
    t two times the daily limit, ICE said today in a statement.
     
  9. ClambakeSkate

    ClambakeSkate Senior member

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    Why does this feel like a massive bubble?

    Oh, definitely, the way that China is going right now, they're headed for catastrophic failure. Everything will fall apart once the general population realizes how fucked it is.

    However, considering that Joe Public only buys 'Made In China' products and will for as long as they can pay less for them and buy the shit at Walmart, this cycle will continue for a while longer. Until production moves to some other 3rd world shithole, we're stuck with it. However China still controls the raw materials and until they're completely flushed down the toilet, they'll keep the prices high for everyone but their own people. Who knows where this is going, but it will not be good for anyone.
     
  10. Dakota rube

    Dakota rube Senior member

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    A bit better than yesterday, all day vomiting for
    You look at sugar prices lately?
    Or corn?
    Wheat?

    Shit's getting expensive.
     
  11. Thomas

    Thomas Senior member

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    You look at sugar prices lately?
    Or corn?
    Wheat?

    Shit's getting expensive.


    Kinda glad I have some bourbon stockpiled right about now.
     
  12. crazyquik

    crazyquik Senior member

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    You look at sugar prices lately?
    Or corn?
    Wheat?

    Shit's getting expensive.


    Other than ticker symbol DBA, I only buy cotton in Savannah:

    [​IMG]




    not really, but I wish . . .
     
  13. Slopho

    Slopho Senior member

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    I'm surprised no one has mentioned the increase of cotton prices and the impact it will have to clothing. Is there anyone here who trades in commodities that can give us a better insight if prices will increase or if eventually they will recede back down?

    Huge article about this in the Journal today. They were talking to a lot of designers at NY fashion week who are changing designs to meet the increased cost of materials. Shorter skirts, not using cashmire where they normally would and shipping by boat instead of plane.
     
  14. Joffrey

    Joffrey Senior member

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  15. scientific

    scientific Senior member

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    countdown until USD are worth less than the paper they're printed on? in 3 ... 2 ... 1 ... lulz
     
  16. Cordwinder

    Cordwinder Senior member

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    Oh, definitely, the way that China is going right now, they're headed for catastrophic failure. Everything will fall apart once the general population realizes how fucked it is.

    Any idea when the general population realizes how fucked it is?

    I'm getting tired of everything from Japan is expensive because everything can be made cheap in China
     
  17. max b

    max b Senior member

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    Answering to the original question : I'm not in the cotton trade, but we are buying cotton everyday. The forecast we have is showing increase of prices until at least June 2011. Then, as it is just a financial matter, could be a very quick decrease...but nothing is sure at the moment, as all the other things happening in the world during last 18 months..
    it is true that price of cotton was almost the same for 5-6 years.
     
  18. Slopho

    Slopho Senior member

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    Shorter skirts!

    Shorter than the original design. It seems that short skirts are out and below the knee skirt are in, but now they'll be back out again because of cotton/other material cost.
     
  19. Valor

    Valor Senior member

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    There are some interesting trades in cotton these days, my friend specializes in trading futures, I believe he is partially the reason for the increase in prices as he holds about 40% of open interest on the CBOE.
     
  20. imageWIS

    imageWIS Senior member

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    It's another bubble, ask your friends the socialists freemasons.. that control everything and the trilateral.

    Can't you read? No politics in the business forum. [​IMG]
     

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