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It's called govt intervention. Cotton producers are guaranteed a set price
( I forget the exact price ~ 58cts ) regardless of the world price. So with
the free govt put they continue to produce more and if cotton happens to
rise they get to sell it at better levels.
brian
on 11/13/01 5:58 PM, Don Ewers at dbewers@xxxxxxxxxxxxx wrote:
> Does anyone on the list know why cotton has traded "so far below" historical
> levels "fundamentally?
>
> Is it the slower economy or new world production (China?) similar to
> soybeans (South America) that has caused this severe price drop to happen?
>
> Has something "fundamentally changed" or just an oversold market swing?
> These types of drops normally play heck with the charts indicating something
> else is "in control"?
>
> Further if indeed cotton and copper may have bottomed (any others ?), the
> "I" word will start to appear soon?
>
> Whats next coffee which is also at historic lows (see chart)?
> don ewers
>
>
>
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