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Relatively low world stocks of cotton; limited supply, robust demand and a very low level of uncommitted cotton caused the surge in prices in 2010/11. The Cotlook A Index surged from 86 cents per pound on August 2, 2010 to a record 186 cents per pound on December 22, 2010.

The Cotlook A Index retreated to 172 cents per pound on December 31, 2010. The season average Cotlook A Index reached 129 cents per pound, 66% higher than the 2009/10 average of 77.5 cents per pound. Similar trends were recorded at the ICE exchange in New York trading the cotton futures contract.

It is estimated that as of end-December 2010, USA export commitments exceeded 3.1 million tons, or 90% of projected exports for the season. The USA is the largest exporter of cotton, accounting for an estimated 41% of world exports in 2010/11. In 2010/11, exports by India, the world’s second largest exporter, were capped by the government below 1 million tons, all of which have been committed.

Central Asian commitments are estimated at over 1 million tons, or 85% of projected exports. Australia and Brazil are expanding production substantially, responding to record prices, but this cotton will not become physically available until April 2011. It is estimated that only about 10 percent of projected world trade of 8.3 million tons is still available for purchase at this relatively early stage of the season. The scarce uncommitted supply may provide strong pressure on prices and cause increased volatility through the rest of the season.

The average Cotlook A Index is well above the current ICAC 2010/11 season-average projection of 101 cents per pound. The International Cotton Advisory Committee – ICAC Secretariat encourages an awareness of the confidence interval around each forecast, rather than an exclusive focus on the point estimate. It also acknowledges that in the current environment of volatility, the ICAC price model may be less relevant than in other seasons.

International Cotton Advisory Committee – ICAC
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President Barack Obama, as a part of his Main Street economic tour, is visiting Western New York to talk to employees and the media about his economic agenda. Four manufacturing companies in the area were considered as stops on the President’s tour, and while it was not ultimately chosen, one of those considered was Imperial Textile. In fact during his speech in Buffalo today, mere miles from the company’s manufacturing facilities, he will be making mention of them as one providing American jobs during these tough economic times.

Imperial Textile, a company that manufactures table cloths, table skirting, napkins and other table linen products, as well as selling restaurant and institutional supplies at wholesale prices, has been in business for 11 years. During this time, and in one of the nation’s hardest hit areas for economic growth, Imperial Textile has continued to provide dozens of American manufacturing jobs. In a climate where it is becoming increasingly cheaper to outsource textile and manufacturing jobs to other countries, they have fought hard to keep jobs in the United States. This demonstrates a concerted effort to maintain some semblance of economic stability during these tough financial times in Western New York and the United States in general.

While the President did not end up stopping at Imperial Textile, it is clear that it is one of the businesses he is speaking about during his economic tour of Main Street across the nation.

Imperial Textile has also been used as a provider of various products to some important government institutions. They have sold to, among others, the US Senate, the Secret Service, and provided linens for the Vancouver Olympics. To check out American-made products that Imperial Textile offers, visit www.tablelinensforless.com and www.uniformsandlinens.com.

Click here to read the Buffalo News article about Imperial Textile’s new building in Western New York!