Cotton Prices Soar As Texas Megadrought Persists

cotton prices soar as texas megadrought persists

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US cotton prices continued to surge above the boom days of 2010-11 after a massive crop estimate cut by the USDA, shocking Wall Street analysts and traders, due primarily to a megadrought scorching farmland of Texas, according to Bloomberg. Futures in New York for December delivery were up 4.5% to $1.1359 a pound and up more than 21% this month. "I don't think you can put a top on prices right now," Louis Barbera, the managing partner for VLM Commodities, told Bloomberg. "I have been going to Texas for more than ten years, and…

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Cotton Prices Soar As Texas Megadrought Persists

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OILPRICE Cotton Prices Soar As Texas Megadrought Persists US cotton prices continued to surge above the boom days of 2010-11 after a massive crop estimate cut by the USDA, shocking Wall Street analysts and traders, due primarily to a megadrought scorching farmland of Texas, according to Bloomberg. Futures in New York for December delivery were up 4.5% to $1.1359 a pound and up more than 21% this month. "I don't think you can put a top on prices right now," Louis Barbera, the managing partner for VLM Commodities, told Bloomberg. "I have been going to Texas for more than ten years, and…

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