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Cotton narrowly mixed

NEW YORK: NYCE cotton futures were trading mixed in slow action that remained concentrated in the options ring, ahead of first notice day, floor sources said.

Options buying in the July contract was supporting prices, "As soon as the options quit, the market could slide down," one trader said.

He noted trade selling from 85.60 cents a lb up.

The first notice day for the May contract is April 24.

Dry weather continues to blanket West Texas, where farmers are planting the 1996/97 crop.

At 1145 EDT, May cotton was up 0.03 cent to 84.35 cents a lb, having ranged from 84.50 and 84.20 cents a lb. July was trading 0.09 cent lower at 85.50 cents. The deferred months were all trading weaker.-Reuter