NY Cotton Ends Limit Up and Expected to Go Higher
Cotton futures settled Thursday up their daily limit on investor buying on bullish technicals and analysts said a more stable economic environment should nudge fiber higher this week. Oil prices were firmer and gold prices steady after a two-day rally as the steadier tone of outside commodity markets gave some support to cotton. The key December cotton contract on ICE Futures U.S. rose the 4-cent limit or nearly 4 percent to finish at $1.0785 per lb, with the session low at $1.0288.
