US cotton closed down for both the session and week on Friday as bearish sentiment overcame a market that initially resisted this week's selloff in commodities. New York-traded cotton for December delivery settled down 1.97 cents, or 2.6 percent, at 73.25 cents per lb on ICE Futures US, after moving between 73.14 and 75.65 cents. It was the sharpest fall for the contract in day since August 13.
For the week, December cotton fell 3.4 percent. Commodities were largely hit by bearish sentiment this week, after rising to multi-month highs last Friday on the Federal Reserve's pledge to buy an additional $40 billion of bonds a month to support recovery in US jobs and the economy. Cotton was an initial exception, tracking the mild drop on US stocks more than the slump on the 19-commodity Thomson Reuters-Jefferies CRB index.
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