The official spot rate maintained upward trend, raising by Rs 50 to Rs 5,500, they said.

Prices of seedcotton in Sindh were at Rs 1700-2350 and in the Punjab at Rs 2000-2750, they said.

In ready dealings about 30,000 bales of cotton changed hands at Rs 3,700-5,700, they added.

In anticipation of further increase in the value of dollar, exporters became active and trying to cover position as much as they can, analysts said.

They said that if the Trading Corporation of Pakistan (TCP), starts buying, which looks unpractical, prices may get further boost from the move, they maintained.

Under the circumstances, when the prices are already going up, TCP may not intervene as growers have sold large part of production.

It is most likely that the ginners may raise the asking prices, they said.

The present rates are near to Rs 6000 and other major factor behind the current rise in the prices is rising trend in the NY cotton market.

It is an encouraging factor that despite heavy monsoon rains and floods in Sindh, the country is going to achieve cotton target because according to the Pakistan Cotton Ginners Association, the country has already achieved 12.032 million bales of cotton during the current season, they said.

They hoped that the crisis like situation may be over among the cotton circles as it looks that the textile sector may be benefited from all the positive developments.

According to Reuters, on Thursday cotton futures ended with moderate losses, but held onto the higher levels achieved during the first two sessions of 2012, as investors paused to absorb the recent gains.

Benchmark March cotton futures finished with 1.18 cent gains at 94.74 cents a lb.

The trading band ran from 94.38 to 95.92 cents, near the top of the range built so far in 2012.

"Since December 14, which is the low, we've rallied 1,200 points and since the start of the year we've rallied 450 points.

So, to sit back down 100 points is nothing alarming," said Keith Brown of Keith Brown and Co in Moultrie, Georgia, noting that cotton fell along with other commodities, as participants focused on taking profits and dollar strength.

In mid-December, benchmark cotton prices slid to lows dating back a year and have been climbing ever since.

By Wednesday, the contract reached its highest level since November 18, surging nearly four cents.

The following deals were reported: 800 bales of cotton from Khipro sold 3700/3800, 400 bales of cotton from Tando Adam at Rs 3800, 1200 bales of cotton from Mir Pur Khas at Rs 3800/4400, 400 bales of cotton from Shahdad Pur at Rs 4000, 400 bales of cotton from Sanghar at Rs 4100, 2000 bales of cotton from Khair Pur at Rs 5200/5250, 3000 bales of cotton from Upper Sindh at Rs 5350/5500, 400 bales of cotton from Bakkhar at Rs 5000, 400 bales of cotton from Vehari at Rs 5250, 1000 bales of cotton from Faqir wali at Rs 5250/5300, 2000 bales of cotton from Haroonabad at Rs 5250/5300, 400 bales of cotton from Mian Channo at Rs 5300, 1000 bales of cotton from Hasil Pur 5300, 1000 bales of cotton from Burewala at Rs 5350/5400, 800 bales of cotton from Kehror Pakka at Rs 5350/5400, 400 bales of cotton from Kaichiwal at Rs 5400, 400 bales of cotton from Dunia Pur at Rs 5400, 400 bales of cotton from Lodhran at Rs 5400, 1000 bales of cotton from Bahawal Pur at Rs 5500, 800 bales of cotton from Ahmed Pur at Rs 5500/5600, 2000 bales of cotton from Dera Ghazi Khan at Rs 5500/5650, 400 bales of cotton from Basti Malook at Rs 5550, 600 bales of cotton from Liaquat Pur at Rs 5575, 1600 bales of cotton from Jalal Pur at Rs 5575/5600, 1000 bales of cotton from Kabir Wala at Rs 5600, 1000 bales of cotton from Sadiqabad at Rs 5600, 1000 bales of cotton from Rahim Yar Khan at Rs 5600, 600 bales of cotton from Mian wali at Rs 5600, 1000 bales of cotton from Tonsa Sharif at Rs 5600, 1000 bales of cotton from Khan Pur at Rs 5600, 600 bales of cotton from Jan Pur at Rs 5600 and 1400 bales of cotton from Shujabad at Rs 5600/5700.