US cotton hits five-week low, mills are tentative buyers

NEW YORK - U.S. cotton fell for a third straight session on Monday hitting five-week lows as investors continued to sell after the market's recent brush above 77 cents. New York-traded cotton for December delivery settled down 0.75 cent, or 1.02 percent, at 72.5 cents per lb on ICE Futures U.S. Cotton processing factory / Photo: Corbis
It fell to 72.43 cents late in the session, its lowest level since Aug. 16. Tentative buying by textile mills after prices fell below 72.5 cents could help stem

Read more ...