Market Requires a New, or Improved, Exchange

摘要

Just think about what we have seen over the last year. We have lived a istorical rollercoaster and believe me, it was not fun! The overheated market throughout much of 2010 turned into an inferno when the new crop came in, and grew even hotter when buyers and sellers came together at the Cotton Council International Sourcing Summit in November 2010. We witnessed oversold cotton, decreases in production, rumors that we will run out of cotton in July, desperate buyers on one hand, suppliers reluctant to sell on the other, and huge volumes of on-call sales for everyone, even buyers who had never done that before. Then the rollercoaster plunged downhill: canceled contracts; defaults from farmers, ginners, merchants and even spinners; unpaid margins; wash-outs; and negative export sales numbers due to cancellations.