Cotton prices fell by about 4 cents per pound in September, to finish the month at almost 67 cents, about 5.7% lower than at the end of August, according to data from the U.S. Department of Agriculture (USDA).
Uncertainty over the effects from Hurricane Harvey on crops in Texas, where a significant portion of U.S. cotton is grown, as well as on the location of and effects of Irma and other storms, caused cotton price hikes in the first two weeks of the month.
However, damage from the storms turned out to be less than feared, sending prices down again.
The seven-market U.S. average cotton spot price, which ended 2016 at just above 69 cents per pound, has fallen by over 2 cents so far this year.
Revised production forecasts of expected bumper crops in the U.S. and abroad may put additional downward pressure on prices going forward.
Tommy Hilfiger credits his brand's staying power to tapping into the fountain of youth, whether that means teaming with Gigi Hadid or jumping on nascent AI technology.Read more
The footwear industry is providing consumers with high-tech footwear solutions, plus Adidas teamed up with Fashion for Good to accelerate environmental practices.Read more
The Bon-Ton Stores has entered into forbearance with lenders to buy more time on interest payment that was due in December.Read more
A.P. Moller - Maersk and IBM said they intend to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology.Read more
In a move that was both political and a recognition that fur has fallen out of fashion even in a nation that was once the world’s top producer of fox pelts, Norway’s government has decided to phase out fur farms by 2025.Read more
Despite its smaller, nimbler competitors, Walmart is determined to be a disruptor in this new retail landscape and its technology incubator Store No. 8 is leading the charge.Read more
As Brazil continues to emerge from its economic crisis and shoppers are starting to spend again, women’s fashion footwear trends are channeling some of that same cautious but confident energy.Read more