Cotton futures rallied from a shallow early dip in benchmark December to finish modestly ahead Friday and post the third weekly gain in a row.
December closed up 26 points to 66.18 cents, near the high of its 90-point inside day range from down 53 points at 65.39 cents to up 37 points to 66.29 cents. This marked its highest close since July 23.
A 38.2% retracement of the 1,588-point plunge from the June 23 high to the Aug. 1 contract low at 62.02 would be 68.09. The 40-day moving average coming into the day was 67.11 cents.
Thinly traded ...