Feb 15, 2012 (Dow Jones Commodities News via Comtex) -- 3:39 (Dow Jones) ICE cotton continues to edge higher after last week's decline in prices helped the fiber become more competitive in international markets, says Penson Futures senior analyst Sharon Johnson. "Folks are willing to pay a few extra pennies for U.S. cotton," since prices are now just three to five cents higher, vs a 10-cent premium last week, Johnson says, citing quality and delivery guarantees. ICE Cotton for March delivery settled 0.3% higher at 92.50c/lb, while the May contract closed up 0.7% at 93.48c/lb.