Cotton futures traded with modest losses Thursday even after U.S. weekly export sales topped most expectations.
Benchmark December hovered off 17 points at 61.99 cents at 7:58 a.m. CDT, trading within an 85-point range from 62.56 to 61.71 cents on a contract volume of 2,029 lots. March dipped 30 points to 60.69 cents on a turnover of 562 lots.
Net U.S. upland export sales for shipment this season of 226,400 running bales rose 45% from the previous week and were up noticeably from the prior four-week average, USDA reported. Gross sales were 228,500 bales and cancellations were 2,100 bales.