- BASIS COTTONIn the raw cotton market denotes " points on " or " points off " futures, or the difference between the price of futures and that of any particular quality of actual cotton. Thus, if futures are at 6.75 d. (Jan./36) and the particular cotton required is 7.10 d. per lb., the basis is 35 " points on."
Dictionary of the English textile terms. 2014.
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