Cotton prices hit season's high on the local market on Saturday in the process of selective business activity, dealers said. The official spot rate managed to hold overnight level at Rs 8100, they added. Prices of seed cotton in Sindh were almost unchanged at Rs 3800-4100 in the Punjab, rates were at Rs 3500-4200, they said. In ready session, 400 bales of cotton finalised at Rs 8250, besides, a deal of 200 bales of cotton reported, hitting season's high level at Rs 8350, they said. Market sources said that mills and spinners trying to lay hands over the fine quality to meet their demand despite higher rates. In the meantime, the ginners adopted cautious attitude towards deals of new crop, they said. Cotton analyst, Naseem Usman said that the cotton prices likely to maintain present trend in the near future. Other brokers said that if arrival of seed cotton improves, it may help in stabilising the rates of cotton. Adds Reuters: ICE cotton futures climbed 3 percent on Friday, hel...