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NY cotton

futures steady

NEW YORK: New York cotton futures ended locked up the 2.00-cent limit for the second consecutive day, bolstered by concerns about pest infestation in the cotton belt, traders said on Friday.

"There do appear to be some yield problems and that is forcing the market higher, said Steve Platt, softs analyst for Dean Witter, citing insect infestations in Mississippi and Arkansas.

He said fresh buying by commodity funds added fuel to Friday's run up.

Most active December ended at 78.55, with no trades posted below that level. Spot October settled at 80.75, while next year's March contract closed at 79.55.

The day's volume was estimated at 5,000 lots.-Reuter