Cotton prices edged up in August, though still remain well below year-ago levels. Cotton prices ended August 2011 at over $1.01.
The 7-market average U.S. spot price for upland cotton ended the month at just over 72.6 cents, about six cents higher than its price at the end of July.
The stabilization in cotton prices has helped reduce cost pressure on apparel makers, particularly in basic categories like denim, underwear and socks. However, style trends have moved toward synthetics, and economic softness in much of the world has slowed sales of fashion apparel and other discretionary items.
For the first two weeks of September, cotton prices have fallen slightly.