Date: March, 2002
Abstract: 2001 was a dramatic year for cotton. At the beginning of the year, the Cotlook A Index stood at 64 c/lb, and New York futures were around 60 c/lb. However, from the very start, prices were on a downward trajectory, and over the course of the year deteriorating market fundamentals pushed prices down to levels not seen in decades. Prices appear to have reached their low point in October/November 2001 (Figure 1), and since then have staged a modest recovery. Nevertheless, they remain extremely low ...
Research Type: Industry Note