950805

Cotton

futures

higher

NEW YORK: New York cotton futures ended moderately higher Friday, boosted by solid trade buying interest and declining certificated stock levels, dealers said.

CSCE certificated cotton stocks fell by a hefty 7,117 bales as of August 3, to 10,489 bales.

Heavy rainfall in the wake of Hurricane Erin - a boon for dehydrated cotton plants - had been expected to pressure prices today. But traders said the downpour could have the reverse effect, as heavy flooding threatened to damage crops in the Mississippi Delta.

Most-active December rose 0.22 cent a lb, to 72.27 cents, while October rose 0.67 cent to 74.37.

Total volume reached an estimated 8,500 lots.-Reuter