Cotton May Drop 11% as Share of Textile Market Wanes, Olah Says
This article is for subscribers only.
Cotton, which has slumped 54 percent since touching a record, may decline an additional 11 percent as its share of the global textile market dwindles, according to Olah Inc., an apparel manufacturer and consulting group.
Prices may fall to 90 cents a pound “soon” as usage of cotton in clothing, home furnishings and industrial products will fall to 30 percent by Dec. 31 from 40 percent a year earlier, said Robert Antoshak, a managing director for Olah who has been tracking the market for 30 years. The company says its customers have included Gap Inc. and Levi Strauss & Co.