Cotton prices fell back to earth, as concerns about slow demand overshadowed a potential poor harvest while the dollar rose to a 20-year high.
Futures have fallen 25% since the end of last month, effectively eliminating gains boosted by a U.S. Department of Agriculture forecast that more than 40% The US cotton acreage this year will not be harvested because of the drought. The drop brought prices closer to normal, with the most actively traded futures ending Tuesday at 88 cents/pound, down more than 40% from the peak in May, the highest price. for over a decade.
