Saturday, February 19, 2011

Cotton Prices at All-time High Levels

If clothes shopping is a part of your routine, you've probably already noticed that prices are getting steeper, and that's likely to continue as cotton prices rise upward. Several factors are influencing the trend, including weather-related crop damage in several countries, demand due to strengthening economies, declines in U.S. inventory, and futures prices. The Washington Post reports that some Chinese cotton farmers are hoarding crop, holding out for higher prices. If you anticipate a personal need for cotton socks, cotton underwear, jeans, or a nice cotton dress, and if your finances are in good order, you may want to consider shopping for those items now in order to buy them at cheaper prices.

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