[Guotai Haitong: Still Bullish on Leading Yarn Companies Benefiting from Rising US Cotton Prices] Guotai Haitong Securities stated that US cotton prices began to strengthen in early March, rising nearly 10% to date and breaking through 70 cents/pound. With Brazil's production cuts taking effect and the US and China entering their cotton planting season, March to May is a crucial catalyst window for US cotton prices. We remain optimistic about leading yarn companies benefiting from the earnings elasticity brought about by rising US cotton prices.