15:13 EDT - Cotton futures wavered in intraday trade, but settled slightly lower as the market continues to correct following the recent rally to 4-month highs. "[Cotton's] return back to the range in which we were trading is kind of reflective of the fact that nothing fundamental has really changed," says INTL FCStone's Chris Kramedjian. "I think we're getting closer to the range where mills are happier to buy." ICE cotton for Dec delivery settled 0.4% lower at 72.42c/lb, a low since Oct 15.