Cotton Prices set Record

From this article:

Cotton prices have hit an all time high as demand from China coupled with shrinking global supplies of the commodity continues.

The price of cotton has gone above $2 (£1.24) a pound for the first time, prompting fears of further rises in the price of clothing, as cotton mills attempt to buy ahead of the deadline for March deliveries.
Cotton prices have risen more than 40% since the beginning of the year mainly due to increasing demand from the world’s biggest fibre consumer, China, combined with shortages bought about because of poor cotton crops in Pakistan and export restrictions in India.
Some clothing manufacturers such as Levi Strauss have already raised prices, while retailers such as H&M have blamed a drop in recent profits on the soaring cost of cotton.

Yesterday, the Wall Street Journal had a story on a Mississippi farmer discussing his planting intentions.  Corn, Soybeans or Cotton, how about all three.  That should make him some money this year.