Cotton news –
0925 EDT [Dow Jones] – Cotton futures rebound early Friday, supported by
supply concerns amidst continued high demand. Prices fell yesterday following a
nearly 50% reduction in weekly U.S. export sales from the previous week, a sign
that high prices forced mills to slow their purchases. But analysts say despite
the drop, the 276,000 running bales registered is still a solid number that
demonstrates a persistent need for the fiber. Mill buying in China remains
strong, FCStone Textiles & Fibres says, and that can continue to support the
market at these price levels. ICE December cotton recently 4.69 cents, or 3.9%,
higher at $1.2637 a pound. (CAN)

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