Cotton Futures Price Today (CT=F)
2023.03.04 06:42
The Cotton Futures Act of 1914 gave the Department of Agriculture of the United States the authority to establish physical standards for determining cotton’s color grade, staple length, strength, and other characteristics. The goal was to keep speculative manipulation of the cotton market to a minimum.
Because it was drafted by the Senate rather than the House, the Act was ruled unconstitutional by the Federal district court. It should have been written in the House because it was a revenue act. The Cotton Futures Act of 1916 took its place.
Cotton is a delicate, soft staple fiber that fills in a boll, or defensive case, around the seeds of the cotton plants of the sort Gossypium in the mallow family Malvaceae. The fiber may contain small amounts of waxes, fats, pectins, and water, but it is almost entirely composed of cellulose. The cotton bolls will increase the seeds’ spread in natural conditions.
The shrub-like plant is native to tropical and subtropical regions all over the world, including Egypt, India, the Americas, and Africa. Mexico has the greatest variety of wild cotton species, followed by Australia and Africa. In both the Old and New Worlds, cotton was domesticated independently. [Citation needed] The fiber is typically spun into yarn or thread and used to make a textile that is soft, breathable, and durable.
Cotton has been used to make fabric since prehistoric times; In the Indus Valley civilization, cotton fabric fragments from the fifth millennium BC were discovered. In Peru, fabric remnants from 4200 BC were found. Even though cotton has been grown since antiquity, its widespread use was made possible by the invention of the cotton gin, which cut production costs. Today, cotton is the most commonly used natural fiber in clothing.
Global production is currently estimated to be around 25 million tonnes or 110 million bales annually, or 2.5% of the world’s arable land. The world’s largest cotton producer is India. For a number of years, the United States was the largest exporter.
