Cotton futures edged higher this week, trading within a tight band on light volume amid a welter of macro developments.
Spot March crawled up 34 points to close at 62.82 cents for the week ended Thursday, bumping several times against its declining 50-day moving average and finishing just below it. It settled higher five of six sessions, but only 96 points separated the high-low closes.
May rose 37 points to 61.39 cents, July added 44 points to 62.10 cents and December 2015 edged up 26 points to 64.56 cents.
Seasonal influences, a sizable speculative short position and surging stock markets ...