Jul 03, 2012 (Dow Jones Commodities News via Comtex) --
14:59 EDT - Cotton advanced alongside other agricultural commodities on worries that sweltering weather across the US could damage crops. Prices are rebounding from June lows and could hit 74c/lb this week, says Mike Seery, owner of online brokerage Seery Futures. Also, increased optimism about demand from China and Europe could boost cotton futures above 80c/lb later this month, he says. "If agriculture prices such as corn keep going to record highs, cotton's going to follow," Seery says. ICE cotton for December delivery rose 0.8% to settle at 72.60c/lb.