1536 EDT [Dow Jones] - Cotton futures set a fresh 140-year high, beating out
the latest record from Oct 26. Cotton for December delivery rose as high as the
day's exchange-set limit would allow, 5 cents, or 3.9% to $1.3426 a pound on
ICE Futures U.S. Cotton prices have nearly doubled since early July, on a spate
of bad weather in China and the devastating floods in Pakistan. The impetus for
Tuesday's move came from India, the world's No 2 producer and exporter of the
fiber. The country's textiles minister signaled that India was reluctant to
authorize more exports and will first gauge whether domestic mills have enough
supplies. Clothing retailers have already announced price increases for next
year.