New York cotton higher

Published July 20, 2008

NEW YORK, July 19: Cotton futures settled firmer Friday on late investor buying as it bucked weaker grains prices due to underlying bullish fundamentals in the market, brokers said. The key December cotton contract rose 0.13 cent to finish at 73.24 cents per lb, dealing from 72.50 to 74.16 cents.

On a fundamental level, analysts said market participants are monitoring the development of the US, China, India and Pakistan cotton crops through the summer.—Reuters

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