950815

Cotton firmer

NEW YORK: New York cotton futures were mostly higher at midday on speculative buying in choppy trade, market sources said.

One trader said the session was just beginning to thin out after speculative buying at the open brought in heavy trade selling. He said one trade house sold several hundred lots.

"The trade decided this was as high as it would go and sold," the trader said. "The specs still think it's going higher."

At 1155 EDT, most-active December was 0.50 cent higher at 74.85 cents a lb. It traded between 76.00 and 74.55. Spot October was 0.30 cent to 77.00. The back months were 0.10 weaker to 0.50 firmer.-Reuter