The benchmark NYCE cotton contract ended fractionally lower Friday in quiet two-way trade as worries about slowing Chinese demand wore off.
Dealers said business was quiet after the first half hour of trade. Futures were sold early then bounced only to slip back at the close.
May cotton ended off 0.82 cent at 59.50 cents a lb. Active July settled 0.02 cent easier at 59.36, trading from 60.40 to 59.25. The contract fell to an 18-month low on Thursday at 56.65 cents after China moved to limit bank lending to slow its economy.
Back months finished up 0.25 to 0.75 cent.
"We had a little bit of trade selling in the options," said Jobe Moss of MCM Inc in Lubbock, Texas. "Late in the day specs were selling the market and pushed it down. Then we had some more trade buying coming in by a major Memphis merchant."
Volume was estimated at 8,000 contracts, down from Thursday's official 26,794 lots.
Nearby support in July cotton was pegged at 58.70 and 58.00 cents, while 60.60 and 61.20 were seen as resistance.
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