* Cotton up on light buying, appears stuck in range
* Investors await USDA supply report

NEW YORK, July 10 (Reuters) - Cotton futures finished a
touch higher Tuesday on light speculative buying ahead of a
government crop report due on Wednesday, analysts said.
The benchmark December cotton contract on ICE Futures
U.S. rose 0.03 cent to finish at 70.72 cents per lb, dealing
from 70.57 to 71.90 cents.
Volume traded on Monday stood at almost 10,000 lots, about
40 percent below its 30-day norm, preliminary Thomson Reuters
data showed.
Traders said cotton appears to continue consolidating in a
narrow range between 70 and 72.50 cents, following a sharp
selloff earlier this year.
Traders awaited the monthly supply/demand report from the
U.S. Department of Agriculture slated for release Wednesday
morning.
In industry news, arbitration cases in the cotton market
should hit a record this year as the fallout from the rally to
record highs and falling prices triggered contract violations
between suppliers and mills who bought cotton.
Volume traded on Monday stood at 11,557 lots, ICE Futures
U.S. data showed.