ICE Cotton Futures Settle Down 2.8% At $1.4018 A Pound

Cotton futures prices on the ICE Futures U.S. exchangefor December delivery settled down 2.8% or 4.03 cents, just up from their limitdown of 5 cents, at $1.4018 a pound Friday in the commodities rout based ongrowing fears China is about to raise its interest rates to cool its rapidlyheating economy. The March futures contract, however, settled "limit down," off3.6% at $1.3418 a pound. "We think the current volatility is about what shouldbe expected at current prices, especially when hedge funds are moving fromDecember futures into March futures," wrote John Flanagan, president ofFlanagan Trading Corp. in Fuquay-Varina, N.C.

source:Dow Jones Newswires