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U.S. Cotton Prices Jump in Early 2013

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Cotton prices have been rising so far in 2013. The 7-market average U.S. spot price for upland cotton has increased by over six and a half cents in the first six weeks of the year, to just over $0.77, after an only two-cent rise in the last six weeks of 2012. Prices remain only 7% below year-ago levels.
A pickup in demand from China has been cited as one cause for the increase. Lack of rainfall during the 2012 growing season, which has kept stocks pretty tight while buoying prices of other commodities, is another. Top commodities traders expect prices to continue to rise in early 2013, though not nearly to levels reached in 2011, when prices exceeded $2 per pound.

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Source: U.S. Dept of Agriculture

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