Cotton futures, unable to gain upside traction, skidded to sharp losses in light dealings and closed near the lows Wednesday.
Most-active December closed off 125 points to 83.70 cents, ten ticks off the low of its 139-point range from up four points at 84.99 to down 135 points at 83.60 cents. Maturing July fell 141 points to 83.68 cents.
Volume slowed to an estimated 10,900 lots from 17,204 lots the previous session when spreads totaled 2,814 lots or 16% and EFP 20 lots. Options volume totaled 2,093 calls and 1,347 puts.
Traders looked ahead to USDA's weekly export sales-shipments report ...