Cotton prices just hit a 10-year high. Here’s what that means for retailers and consumers

A cotton field Scott Olson | Getty Images The last time cotton prices were this high, it was July 2011. “In 2011, we needed a prayer meeting,” Levi Strauss Chief Executive Chip Bergh told investors on an earnings call Wednesday. Bergh recalled how he had just joined the denim retailer and was learning his way …