T-shirts and jeans may get more expensive as cotton prices hit 10-year high

LOU SANTONI OF SANTONI맥스카지노�S MARKETPLACE AND CATERIN HAS MADE MORE PITSVO THAN A POINT GUARD THROUGHOUT THE PANDEMIC BUT DECENT ISSUES WITH DISTRIBUTORS HAVE FORCED HIM TO RAISE PRICES WITHOUT MENTIONING A NAME. IANT W ONE SUPPLIER THAT FOR FOUR WEEKS IN A ROW COULDN맥스카지노�T EVEN DELIVER TOS. U THAT맥스카지노�S RIGHT. HE CAN맥스카지노�T EVEN GET GOODS DELIVERED. SOMETIMES HAVING TO SDEN HIS OWN TRUCKS TO WAREHOUSES TO PICK UP PERISHABLE FOODS TO BRING BACK TO THE STORE ULTIMATELY SENDING PRICES UP. SOMETIMES YOU GET A LITTLE BIT OF BREAK AND YOU GET A WIN FOR TH BREAK AND YOU GET A WIN FOR E WEEK OR TWO THAT YOU맥스카지노�RE SEEING SOME MAYBE MEET PRICES COMING DOWN. EROVALL TREND THAT IS THAT PRICES ARE GOING TO GO UP AND THEY맥스카지노�RE GOING TO CONTINUE TO GO UP. SO WHY IS THIS HAPPENING ECONOMIST ARNIBAN BASU FROM THE SAGE POLICY GROUP YSSA IT ALL COMES DOWN TO EMPLOYMENT ISSUES. IT맥스카지노�S BEEN A LOT ABOUT LACK OF WORKERS PRODUCE FOOD AND ALSO A LACK OF TRUCK DRIVERS TO DRIVE FOOD AROUND AND SO ONE OF THE THINGS THAT WE맥스카지노�RE SEEING IS PARTICULARLY LARGE PRICE INCREASES FOR THOSE TYPES OF FOOD THAT NEED BTOE REFRIGERAT,ED BUT SUE SAYS CURRENTLY FOR EVERY 83 UNEMPLOYED AMERICANS THE ARERE HUNDRED JOB OPENINGS. HE SAYS DESPITE WAGES CONTINUING TO GO UP INFLATION AT MULTI-DECADE HIGHS IS KEEPING THE VALUE OF THOSE HIGHER WAGES LOWER. THERE WAS THIS NIONOT THAT AFTER SEPTEMBER 6 WAS SOME OF THESE EXTENDED AND EXPANDED FEDERAL UNEMPLOYMENT INSURANCE BENEFITS LAPS AND ALL THE SUDDEN WE SEE THIS RUSSIA PEOPLE LOOKING FOR WORK THAT IS NOT THE CASE AND THAT맥스카지노�S NOT THE CASE AFTER FOR A WHIL INE THE MEANTIME GROCERS LIKE SANTONI맥스카지노�S MARKETPLACE WILL TRY TO KEEP PRICES DOWN AS MUCH AS THEY C.AN THIS IS BEEN A AFRICAN JUMP AND I THINK IT맥스카지노�S GOING TO BE I THINK IT맥스카지노�S HEER TO STAY FOR A GOOD BIT OF TIME. SOOW H LONG WILL THIS LAST MANY ECONOMISTS BELIEVE AT LEAST THROUGH SUMME ORF 2002 IS GETTING MORE PEOPLE BACK INTO ETH SUPPLY CHAIN SHOULD HELP ALLEVIATE SOME OF THE STRESS BUT REALLY TIME WILL TELL. WE맥스카지노�RE LIVE IN GLENDON TON

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Related video above: Supply chain issues causing spike in grocery pricesCotton prices jumped to fresh 10-year highs on Tuesday, joining a long list of booming commodities and raw materials.Cotton futures climbed 4% to nearly $1.09, the highest level since September 2011. The commodity is up 22% in the past two weeks alone.The cotton spike could eventually be passed along to consumers in the form of higher prices on jeans, T-shirts and other clothing.Consumer prices on apparel were already on the rise and the rally in cotton futures could drive prices even higher.Apparel prices climbed 4.2% during the 12 months that ended in August, according to the government inflation report. Prices rose even more on men's shirts and sweaters (4.4%), men's pants and shorts (6.6%) and women's dresses (11.9%).Analysts blamed the cotton rally on several different factors, including extreme weather. Droughts and heat waves wiped out cotton crops in the United States, the world's leading cotton exporter."It's a shortage situation. The planting season did not go that well," said Robert Yawger, director of energy futures at Mizuho Securities.Yawger said traders on Wall Street have driven cotton prices even higher in recent days."All the speculators started to jump in, exacerbating a tight market," he said.At the same time, demand has been very strong, especially from China. The heavy demand from China could reflect a side effect of U.S. trade policy.In December 2020, the Trump administration blocked U.S. companies from importing cotton and cotton products originating in China's western Xinjiang region due to concerns about forced labor.Analysts say those penalties, which remain in place during the Biden administration, have caused some Chinese companies to buy U.S.-grown cotton, make goods with it and then sell the products back to the United States and other markets.

Related video above: Supply chain issues causing spike in grocery prices

Cotton prices jumped to fresh 10-year highs on Tuesday, joining a long list of booming commodities and raw materials.

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Cotton futures climbed 4% to nearly $1.09, the highest level since September 2011. The commodity is up 22% in the past two weeks alone.

The cotton spike could eventually be passed along to consumers in the form of higher prices on jeans, T-shirts and other clothing.

Consumer prices on apparel were already on the rise and the rally in cotton futures could drive prices even higher.

Apparel prices climbed 4.2% during the 12 months that ended in August, according to the government . Prices rose even more on men's shirts and sweaters (4.4%), men's pants and shorts (6.6%) and women's dresses (11.9%).

Analysts blamed the cotton rally on several different factors, including extreme weather. Droughts and heat waves wiped out cotton crops in the United States, the world's leading cotton exporter.

"It's a shortage situation. The planting season did not go that well," said Robert Yawger, director of energy futures at Mizuho Securities.

Yawger said traders on Wall Street have driven cotton prices even higher in recent days.

"All the speculators started to jump in, exacerbating a tight market," he said.

At the same time, demand has been very strong, . The heavy demand from China could reflect a side effect of U.S. trade policy.

In December 2020, the Trump administration blocked U.S. companies from importing cotton and cotton products originating in China's western Xinjiang region due to concerns about forced labor.

Analysts say those penalties, which remain in place during the Biden administration, have caused some Chinese companies to buy U.S.-grown cotton, make goods with it and then sell the products back to the United States and other markets.

T-shirts and jeans may get more expensive as cotton prices hit 10-year high

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