April 2, 2006	Sunday	Rabi-ul-Awwal 3, 1427

NEW YORK, April,1: Cotton futures ended lower on Friday due speculative sales and switch trade, pressured by a government report which forecast a rise in US cotton plantings, analysts said. The New York Board of Trade’s May cotton contract lost 1.05 cents to close at 52.65 cents a lb, in a band from 52.56 to 53.57 cents. July shed 0.75 to 54.60 cents. One contract aside, the rest declined 0.45 to 0.61 cent.

The US Department of Agriculture said in its annual planting intentions report that US farmers plan to sow 14.634m acres to cotton in 2006/07, against trade belief sowings will range from 14.44 to 14.45m acres.

Futures slid from the opening bell due to speculative sales and the market did not receive much in the way of support until it stood at the day’s lows, dealers said.—Reuters