iPath Dow Jones-UBS Cotton Total Return Sub-Index ETN(BAL)- NYSEARCA
  • Dec. 1, 2011, 1:39 PM

    Bad news for Cotton, good news for retailers? A deadly combination of a record global crop and falling consumption will continue to pound cotton prices and keep sentiment bearish in the trading pits, according to analysts. Standing to benefit are manufacturers and retailers: Levi-Strauss is cutting back prices to reign in price-conscious shoppers, while American Eagle Outfitters' (AEO +0.4%) CEO highlighted the importance of the commodity to his firm's bottom line in an earnings CC.

    | Dec. 1, 2011, 1:39 PM | 2 Comments
  • Aug. 23, 2011, 12:40 PM
    The National Hurricane Center says much of the East Coast is at risk from Hurricane Irene with the potential Cat-4 storm's 5-day track centered on the Carolinas. The damage in the Caribbean is extensive, although this year's coffee and sugar crops were largely harvested already. In the U.S., cotton crops in Georgia and South Carolina could be damaged.
    | Aug. 23, 2011, 12:40 PM | 1 Comment
  • Aug. 22, 2011, 1:49 PM

    Apparel companies with a focus on sportier lines are moving higher in tandem today, helped along in part from a trend in lower cotton prices. Gainers: Hanesbrand (HBI +4.4%), Warnaco Group (WRC +4.3%) and Phillips-Van Heusen (PVH +4.3%).

    | Aug. 22, 2011, 1:49 PM
  • Aug. 11, 2011, 10:51 AM

    The USDA issues its monthly crop forecast (.pdf) showing the nation's heat wave and spring flooding took a harsher toll on most crops than expected. Production forecast (M/M): Wheat -1.4%, Corn -1.3%, Soybean -3.7%. Cotton +3.8%.

    | Aug. 11, 2011, 10:51 AM
  • Aug. 1, 2011, 2:33 PM

    India lifted restrictions on the sale of cotton overseas in a move that could help keep prices lower in tandem with lackluster global demand. Working on the bullish side for the price of cotton are crop production issues in the U.S. and a potential unleashing of demand at the right price entry points, says one analyst.

    | Aug. 1, 2011, 2:33 PM | 1 Comment
  • Jul. 14, 2011, 9:59 AM

    Higher cotton prices in 1Q and 2Q pressured clothing makers to raise prices or take losses as margins were squeezed, but relief could be coming as the National Cotton Council reports prices are trending downward.  Firms in line to benefit: Liz Claiborne (LIZ +0.8%, Lululemon (LULU +1.5%), Levi Strauss.

    | Jul. 14, 2011, 9:59 AM | 1 Comment
  • Jul. 12, 2011, 10:01 AM

    Shares of airline stocks slip on Europe worries. Airliners face the usual Europe debt stress, but are also in a fight with the EU over emission standards under a new proposal, starting next year, capping emissions at 97% of their average 2004-06 levels. Airline losers: American (AMR -2.3%), Delta (DAL -2.3%), United Continental (BAL -2.9%)

    | Jul. 12, 2011, 10:01 AM
  • Jul. 11, 2011, 10:39 AM

    Cotton futures slide -3.3% to 8-month lows on concern demand will slow down. A report over the weekend showing Chinese imports grew last month at the slowest pace in 20 months hurt, as did an international trade report saying cotton prices will decline significantly this season due to slowing global demand.

    | Jul. 11, 2011, 10:39 AM
  • Apr. 28, 2011, 4:29 PM
    Today's sell-off in grains may mean little, but longer term action in the fertilizer names - often leading indicators - could bode ill for the agriculture sector, says Robert Sinn. The recent move in cotton shows "what can happen when gravity grabs hold of a (hot) commodity."
    | Apr. 28, 2011, 4:29 PM
  • Apr. 11, 2011, 12:27 PM
    After a 25% gain in less than 5 months, Goldman closes one of its top trade ideas - a long basket of crude, copper, cotton/beans, and platinum. While believing the trade has additional upside potential, the risk/reward is not nearly as enticing. A few relevant ETFs: USO, JJC, BAL, PTM.
    | Apr. 11, 2011, 12:27 PM | 1 Comment
  • Apr. 7, 2011, 9:27 AM
    The China Securities Journal expects monetary policy to remain tight in the face of inflation likely to rise above 6% later this year. Current deposit rates are 3.25%, making it more sensible to spend, speculate in shares or houses, or stockpile cotton and copper rather than save. Of course, China has its ways of holding down reported inflation.
    | Apr. 7, 2011, 9:27 AM | 1 Comment
  • Mar. 30, 2011, 3:43 PM

    Attempting to rebuild a depleted stockpile that was as high as 3.5M tons, China encourages its farmers to plant cotton by putting a floor under prices. Beijing frets that farmers, worried about a collapse in the price of the fiber, may withhold giving cotton the acres it needs for the coming crop. BAL +0.4%.

    | Mar. 30, 2011, 3:43 PM
  • Mar. 30, 2011, 12:14 PM

    If you're keeping an eye on skyrocketing food and fiber prices (past 12 months: an 82% corn pop, a 142% gain in cotton, wheat prices soaring worldwide), then you'll want to join those scrutinizing tomorrow's annual crop-planting report - the best outlook on upcoming supplies until farmers actually put crops into the soil. Eyes are especially on corn (92M expected acres).

    | Mar. 30, 2011, 12:14 PM | 2 Comments
  • Mar. 28, 2011, 8:58 AM

    Cotton farmers planting "fencepost to fencepost" across the planet is likely to send prices tumbling this year, according to a survey of analysts and traders. The extra acres devoted to cotton could come at the expense of corn and beans, driving food prices even higher. Premarket: BAL -2.6%

    | Mar. 28, 2011, 8:58 AM | 1 Comment
  • Mar. 7, 2011, 10:45 AM

    The price chart for cotton officially becomes a set of stairs as cotton is limit up again, the May contract hitting a new record of $2.1970/pound. No news surrounding the move, but that won't ease the pain for apparel makers and retailers. BAL +5.2%, RTH -0.5%, XRT -1.1%.

    | Mar. 7, 2011, 10:45 AM
  • Mar. 4, 2011, 11:29 AM

    After a brief, brutal correction, cotton rides a series of limit up days to move back within a whisker of its all-time high. That price will not be breached today, as today's regularly scheduled limit move leaves cotton at 212.70. BAL +1.8% today, +50.6% YTD.

    | Mar. 4, 2011, 11:29 AM
BAL Description
The Dow Jones-UBS Cotton Subindex Total ReturnSM is a sub-index of the Dow Jones-UBS Commodity Index Total ReturnSM and is intended to reflect the returns that are potentially available through an unleveraged investment in the futures contracts on physical commodities comprising the index as well as the rate of interest that could be earned on cash collateral invested in specified Treasury Bills. The Dow Jones-UBS Cotton Subindex Total ReturnSM is a single-commodity sub-index currently consisting of one futures contract on the commodity of cotton, which is included in the Dow Jones-UBS Commodity Index Total ReturnSM.
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