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Cotton prices set record high on supply fears

Cotton prices set record high on supply fears

Cotton prices are climbing to another record high amid growing concerns about fulfilling robust demand with tight global supplies.
Cotton for December delivery added 5 cents to settle at $1.3426 a pound Tuesday, a record high. That's up 84 percent from July.
Cotton's rally could translate into higher prices on some consumer cotton products by early next year.
Most commodities also benefited from a weaker dollar. Since commodities are priced in dollars, a weaker dollar makes them more attractive to buyers who use foreign currencies.