DJ MARKET TALK: Cotton Futures Hold Steady Above 70c/Lb

14:57 EDT - Cotton ticked higher as traders continue to exercise caution ahead of the USDA's supply/ demand report on Thursday. Analysts expect prices to remain under pressure in the near-term, as demand from top-consumer China wanes and the market is hit with a glut of supply. "But we caution that relatively cheap cotton and higher prices for key competitor crops portend a large decline in US cotton plantings in the spring, hinting at friendlier prices in the longer term," says INTL FCStone's Gary Raines. ICE cotton for December delivery settled 0.1% higher at 71.84c/lb.