ACSA Preview Focus Remains on Cotton Flow and Contract Sanctity

摘要

Hopefully, we will be able to place 201 as a record year for defaults in the history books - and we all hope it is srecord that will never be broken! Everyone who is familiar with the cotton industry knows the past year has been a time of huge volatility, which has led to both farmer/supplier and textile mill/buyer defaults. During parts of 2011, futures margins represented two to three times the cost of producing the cotton hedged.