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Tuesday, September 4, 2012, 5:12 AM Amid a wave of broken contracts and price volatility, the International Cotton Association is looking to strengthen a "default list" of firms that break contracts and then ignore arbitration awards in the $70B sector. Farmers and mills have been accused of reneging on contracts as prices fluctuate, with the middlemen merchants suffering the most. 1 Comment [Commodities]
Wednesday, August 22, 2012, 12:14 AM "The Chinese economy is only at the beginning of a harsh winter," says Zhang Hongxia - chairman of China's largest cotton-textile maker - estimating cotton usage could shrink 11% this year. Normally consuming 600K tons of cotton/year, Zhang's company used just 204K tons in H1. "We are in a worse situation now, (than) compared with 2008-09." 3 Comments [Global & FX]
Monday, July 9, 2012, 10:42 AM A check of commodity performance (DBC) in H1 shows agricultural commodities (DBA) the top performer, despite steep falls in coffee (JO) and cotton (BAL), as the drought sends grains (JJG) soaring. Leading on the downside are the economically sensitive energy (JJE) and industrial metals (JJM) sectors. Comment! [Commodities]
Thursday, June 21, 2012, 12:27 PM The commodity sector is lit up bright red - the markets (stocks too) apparently waiting until today to throw a tantrum over disappointment on no new QE. GLD -2%, SLV -3.6%, Copper (JJC) -2.2%. Crude oil takes out $80/barrel and more, now at $79.45, USO -2.1%. Corn -2.8%, Cotton -6%. 10 Comments [Commodities]
Friday, June 15, 2012, 5:43 AM China, the world's largest cotton user, is reportedly looking to buy 1M metric tons of cotton from the U.S. to boost government stockpiles. Sources say 160K tons have been bought since last week. "The Chinese government has become the most important factor in global demand and supply," says analyst Dong Shuangwei, even as "the fundamentals still paint a rather gloomy picture." Cotton futures +2.43%. 2 Comments [On the Move, Commodities, Global & FX]
Tuesday, March 20, 2012, 3:23 PM Cotton continues near 2-year lows as the U.S. government estimates record crops in key producing countries will expand stockpiles by 32%. "Cotton is a cub right now and can grow into a fully-fledged bear," says a trader. Standing to benefit are clothing retailers such as Gap (GPS) and Abercrombie & Fitch (ANF). Cotton ETF: BAL -49% Y/Y. Comment! [Commodities, Consumer]
Monday, March 12, 2012, 6:40 AM India continues to flip-flop on cotton, saying today it will now prohibit fresh cotton exports and permit only quantities already registered but not shipped. The trade ministry unexpectedly banned all cotton exports on March 5, then lifted the restriction on Sunday. Muted reaction from cotton futures, +0.3%. Comment! [Commodities, Global & FX]
Sunday, March 11, 2012, 8:50 AM India decides to kill a one-week old cotton export ban following protests from farmers and traders. The move will allow growers to get a market price for their product instead of being corralled into selling domestically for less. The ban had led to a spike in cotton prices, which has since reversed. 3 Comments [Global & FX, Commodities]
Tuesday, March 6, 2012, 11:04 AM India will reassess the Trade Ministry's ban on cotton exports on Friday after Farm Minister Sharad Pawar slammed the move as "highly objectionable" and said it would hurt local producers. Cotton futures are -1.2% and giving up some of yesterday's gains. Comment! [Global & FX]
Monday, March 5, 2012, 11:32 AM India banned cotton exports to ensure supplies for local mills, having already exported 9.4M bales and passed its quota. U.S. producers could benefit, although VIP Commodities says the country is "almost out of cotton." Opinion is split over whether the ban will force prices higher still or whether weak demand at mills will cap them. Comment! [Commodities]
Monday, March 5, 2012, 10:07 AM Clothing retailers seem to be mainly unmoved by India banning cotton exports, with shares flat to higher. Gap (GPS) +0.3%, Urban Outfitters (URBN) +1.2%, American Eagle Outfitters (AEO) +0.4%, Abercrombie & Fitch (ANF) +1.2%, The Buckle (BKE) +0.3%. Comment! [Commodities, Consumer]
Monday, March 5, 2012, 6:49 AM India, the world's No. 2 producer of cotton, bans all cotton exports, effective immediately. No explanation of the embargo has been offered. Cotton futures jump 4.5% to $0.92. 5 Comments [Commodities, On the Move]
Tuesday, January 3, 2012, 3:59 PM Looking at the sharp fall in names like MCD, BWLD, DPZ, and PNRA in a bright green tape, Ivan Hoff suggests a repeat of early 2011's reflation trade - long commodities, short restaurants - might be in order. Higher costs put a double hit on restaurants, cutting margins at the same time squeezed consumers are forced to spend less on meals. 2 Comments [Commodities, Consumer, Quick Ideas]
Thursday, December 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. 2 Comments [Commodities, On the Move, Quick Ideas]
Tuesday, August 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. 1 Comment [Commodities]
Monday, August 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%). Comment! [On the Move, Consumer]

BAL iPath Dow Jones-UBS Cotton Total Return Sub-Index ETN

BAL

iPath Dow Jones-UBS Cotton Total Return Sub-Index ETN