Cotton futures declined for the fourth time in five sessions on signs that global demand will continue to slump.

CottonΆs share of the global market for clothing, home furnishings and industrial products will fall to 30 percent by Dec. 31 from 40 percent a year earlier, Robert Antoshak, a managing director at New York-based Olah Inc., an apparel manufacturer and consulting group, said yesterday. Futures tumbled as much as 57 percent since reaching a record $2.197 a pound on March 7.

“There has been a demand destruction, and no one knew it would be this severe,” Chris Kramedjian, a risk-management consultant at FCStone Fibers & Textiles, said in a telephone interview from Nashville, Tennessee. “We are seeing a resumption of the trend today.”

Cotton for December delivery slid 0.09 cent, or 0.1 percent, to settle at $1.0075 at 2:47 p.m. on ICE Futures U.S. in New York. On July 18, the price touched 94.46 cents, the lowest for a most-active contract since Sept. 16.