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NEW YORK: Cotton futures closed Friday with a small daily loss, but still posted gains in the first quarter of 2012 and a monthly increase from the end of February.
The key May cotton contract slipped 0.02 cent to end Friday at 93.52 cents per lb.
The spot contract ended the first quarter up 1.87 percent from its close at 91.80 cents at the end of the previous quarter. For March, the contract gained 3.4 percent from its end-February close at 90.44 cents.
On the week, the contract increased 4.35 percent from last Friday's finish of 89.62 cents.
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