Cotton futures rallied from early losses to settle Thursday with modest gains and a new high close since early April.
Spot July settled up 24 points to 87.92 cents, in the upper third of its 179-point range from down 107 points at 86.61 to up 72 points at 88.40 cents. This was its highest close since April 5.
December also closed up 24 points, settling at 87.01 cents to finish in the upper reaches of its 130-point range from 85.95 to 87.25 cents.
Volume slipped to an average of 21,200 lots from 26,000 lots the previous session when spreads totaled ...