Cotton Tumbles by Exchange Limit on Signs China Demand May Ebb
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Cotton futures plunged the most allowed by ICE Futures U.S. as trading surged to a record amid signs that demand may slow in China, the world’s biggest user.
In New York, cotton futures for March delivery tumbled the exchange maximum of 6 cents, or 4.1 percent, to settle at $1.4111 a pound at 3:05 p.m. Earlier, the price rose to $1.5195, the highest level in 140 years of trading. ICE said estimated volume for all contracts was 100,270, an all-time high.