ICE Cotton Surges On Supply Doubts

ICE cotton for March delivery soared on Wednesday ending asell-off since the Nov. 10 record peak. The contract price gained 4.3% to closeat $1.1659 a pound. The December contract finished up 5.6% at $1.1939 a pound,as doubts about the adequacy of this year's cotton supplies returned to themarket. Strong economic indicators such as a drop in new U.S. jobless claimsalso boosted buyer confidence, said Mike Stevens, an independent cotton analystin Mandeville, La.