Cotton futures dipped on Friday to settle the week little changed, near three-month lows touched earlier in the week, as another day of significant losses on top-consumer China's stock indices raised concerns. "Why would you want to get long something that's making new lows?" said Jobe Moss, a broker with MCM Inc in Lubbock, Texas.
March cotton on ICE Futures US settled down 0.49 cent, or 0.79 percent, at 61.41 cents per lb. It traded within a range of 61.34 and 62.02 cents a lb. The contract settled the week up just 0.01 cent, or less than 0.1 percent. Total futures market volume rose by 613 to 22,158 lots. Data showed total open interest gained 886 to 182,553 contracts in the previous session.
Certificated cotton stocks deliverable as of January 14 totalled 64,141 480-lb bales, unchanged from 64,141 in the previous session. The dollar index was down 0.24 percent. The Thomson Reuters CoreCommodity CRB Index, which tracks 19 commodities, was down 1.95 percent.