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Cotton futures higher

NEW YORK: NYCE cotton futures were mostly firmer and near the top of the session's tight range in late morning trading, as speculative buying erased opening weakness, traders said.

Cotton was called to open about 0.30 cent per lb firmer this morning, but an initial bout trade selling pressured prices, one dealer said.

At 1142 EDT, May cotton was up 0.35 cents at 87.90 cents per pound, after trading narrowly from 88.00 to 86.90 cents. Second-month July was 0.22 firmer at 89.05, while the remaining months were 0.15 firmer to 0.08 weaker.

Traders pegged July resistance just above today's high at 89.50.-Reuter