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Excerpt from Foreign Crops and Markets, Vol. 26: March 6, 1933
Yarn production reached record levels in January. Yarn prices declined so sharply as to virtually eliminate spinners profits. Spot yarn prices dropped 12 per cent while futures went down 10 per cent in the period indicated. Piece goods exports fell off sharply in January. Producu tion also declined slightly but the level of output was considered as still satisfactory in view of the large number of holidays in that month. Weavers are reported booked to capacity until the end of March, but there are a number of cancellations reported.
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