Cotton Skyrockets, Passes All Time Record High, Parabolic Sailing Ahead

Last week, when commenting on cotton’s torrid YTD performance, we noted “A retest of the $2 psychological price barrier is now guaranteed and is on next week’s docket.”

This despite the ICE’s 25% hike in initial and maintenance margins.

Sure enough, as expected, cotton has just passed the $2 price (an all time record obviously).

Since our initial observation on cotton’s bubbly performance back in September, cotton has now surged by over 100%. But fear not: surely this is a demand phenomenon, as revolutionaries across the world realize they have to be well-dressed for all those cameras…

Submitted by Tyler Durden on 02/17/2011 08:27 -0500

Source: ZeroHedge

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.