Cotton prices recovered in March, after dipping below $0.57 per pound in February for the first time in more than a year, according to data from the U.S. Department of Agriculture (USDA).
The seven-market U.S. average cotton spot price, which ended 2015 at $0.63 per pound, plunged by almost 11 percent in the first two months of 2016 to $0.56, but then rose to finish March at just over $0.57. So far in April, the upward trend seems to be continuing, with benchmark prices in most markets flat to higher.
The most recent estimate for the world’s consumption increased slightly to 109.6 million bales.
Next month, the USDA is expected to release its first set of estimates for the 2016/2017 growing season. Preliminary indications are that acreage in China will decrease, but that other major producing countries will dedicate the same or more land to cotton. U.S. growers are expected to plant 11 percent more cotton than in the current season.
Textile firms Eastman and Huntsman delivered strong top and bottom line results, while brand manager Deckers narrowed its loss and luxe king Kering rolled along.Read more
The Nordstrom family is sweetening the deal in its search for equity partners willing to join its efforts to take the department store private.Read more
The juggernaut that is Amazon continued in the second quarter, at least on the top side, as the bottom line was hit by high expenses.Read more
J.C. Penney elected Jeffrey Davis as its new CFO, plus StitchFix COO Julie Bornstein is leaving her post.Read more
Walmart's new roadmap for renewing U.S. manufacturing highlights ways to create workforce, trade, tax and regulation solutions to address existing issues.Read more
How social responsibility attitudes among Asian consumers create opportunities and challenges for the global social compliance community.Read more
Beyond politics, Made in USA is—and has been—a reality for many brands. Though the U.S. remains uncertain with regard to future trade policies, domestic companies are here to stay for a myriad of reasons, including patriotism, proximity and pride.Read more