1539 EDT [Dow Jones]--Cotton futures settled up 1.26 cents a pound at $1.3552
cents a pound on the ICE Futures U.S. exchange as little appears in sight to
assuage demand. The main draw is coming from cotton mills that have orders to
meet for, for instance, major U.S. retailers. "The mills have to try to satisfy
all the orders they've taken," noted John Flanagan, president of Flanagan
Trading Corp. in Fuquay-Barina, N.C. "Prices inside China are above $2 [a
pound]," Flanagan said, adding that "although we're at record highs, it's still
a great bargain" in the U.S. In fact, the possibility is growing for
arbitrage--for someone to purchase U.S. cotton and sell it in China.
DJ MARKET TALK: ICE Cotton Settles Up 1.26 Cents
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