Cotton Ends at 2-1/4-year Low

Cotton futures settled on Thursday at a 2-1/4-year low on speculative sales as bumper supplies and a shaky global economy kept market bears firmly in control, analysts said.

July cotton on the ICE Futures U.S. exchange slipped 0.32 cent to finish at 76.65 cents per lb., trading from 76.26 to 78.23 cents. It was the lowest close for the spot cotton contract since February 2010, Thomson Reuters data showed.