Cotton Prices Hit Record Levels

Cotton prices have surged beyond $2 a pound, the highest level they've ever hit. The fiber didn't even go that high during the Civil War's cotton embargo. It is now up 170% since a year ago and more than 40% since the beginning of 2011. Short-term squeezes have definitely contributed, as mills scramble to buy futures contracts to fix physical supply prices. But there are solid fundamentals to

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