DJ MARKET TALK: Cotton Falls On Slowing Export Sales

Oct 28, 2010 (Dow Jones Commodities News via Comtex) -- 1500 EDT [Dow Jones] - Cotton futures fell for the second consecutive session after export data showed U.S. cotton sales plunged by nearly half from last week. The U.S. Department of Agriculture reported sales of about 276,000 running bales of cotton for the week ended Oct. 21, a 45% drop from the previous week. High prices appear to be taking their toll, analysts said, as mills slow their buying. However, demand remains much higher than normal and should prices fall, purchases could accelerate again. ICE December futures settled 1.91 cent, or 1.6%, lower at $1.2168 a pound.