Cotton ETF Hit Hard As Commodity Sells-Off From All-Time Highs (BAL)
Tweet
Share
E-mail
Cotton ETF iPath DJ-UBS Cotton TR Sub-Idx ETN (NYSE: BAL) is down 10.5% this morning as the commodity is moving down sharply from record highs.
Cotton has been surging higher recently due to increasing world demand, namely China. In addition, Australia's cotton crop will be lower this year due to flooding. Yesterday, cotton futures moved above $2 per pound and the ETF was up 6.8%
Cotton has been surging higher recently due to increasing world demand, namely China. In addition, Australia's cotton crop will be lower this year due to flooding. Yesterday, cotton futures moved above $2 per pound and the ETF was up 6.8%
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Verizon planning new round of layoffs this week - Barron’s
- Datadog (DDOG) PT Raised to $315 at UBS
- J.B. Hunt Transport Services (JBHT) PT Raised to $291 at UBS
Create E-mail Alert Related Categories
Commodities, ETFsRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
