Cotton futures have dropped another 11% this month and we say 'another' because if you go back to March of last year, cotton has dropped an astounding 60%. Here's the line chart in terms of % change going back to the beginning of 2011:
Most commodities are down for the month of May (19 out of 29 that we track) with one notable exception being natural gas. Natural gas was so beaten down, having dropped below $2 mmBtu, that it was due for a relief rally. Here are the top 12 decliners in the commodities space for the month of May:
It is worth point out that both brent and wti have dropped over 5% in the past week and half with WTI having a decent sized cushion below the $100/barrel level. It will be interesting to see how quickly this spills over to retail gas prices which provides us with the perfect opportunity to plug our
Global Gasoline Price chart (just updated yesterday).
Going back to cotton, when we talk about cotton futures occasionally we like to take a peek at one of the largest consumers of the raw material, The Gap (ticker: GPS). Here's our comparison chart of cotton prices along side the GPS stock price.
No comments:
Post a Comment