US cocoa futures on ICE Futures slipped in early trade on Monday, after climbing to a 28-year peak in a sustained rally, while coffee turned lower in a partial retracement of Friday's sharp gains. September arabica contract down 1.20 cents at $1.455 per lb by 9:24 am EDT (1324 GMT), spanning $1.445 to $1.485.
The rest down 0.25 to 1.35 cents. Origin selling and profit taking after closing up 5 percent at a three-month high Friday, said traders. Final volumes Friday at 27,967 lots, according to ICE data. Benchmark September cocoa contract down $12 at $3,113 a tonne by 9:25 am, trading from $3,091 to $3,144, a high last seen February 1980 for the second position on a monthly continuation chart. The rest down $1 to $10, after most contracts hit lifetime highs earlier.
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