NEW YORK, Sept 21 (Reuters) - U.S. 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 U.S., after moving between 73.14 and 75.65 cents. It was
the sharpest fall for the contract in day since Aug. 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 U.S. jobs and the economy.
Cotton was an initial exception, tracking the mild drop on
U.S. stocks more than the slump on the 19-commodity
Thomson Reuters-Jefferies CRB index.