Cotton futures settled lower Monday, consolidating within ranges of the prior session when prices posted a new high for the move for the second straight day.
Benchmark December closed off 46 points to 92.86 cents, in the lower third of its 93-point range from down 71 points at 92.61 to up 22 points at 93.54 cents. March eased four ticks to close at 90 cents.
Volume slowed to an estimated 15,600 lots from 24,529 lots the previous session when spreads totaled 6,938 lots or 28%, EFS 2,211 lots and EFP 326 lots. Options volume totaled 2,336 calls and 6,878 puts.