NEW YORK, Feb 11: Cotton futures ended with slight losses Friday on speculative sales and switch trade as the market traded in a band and showed little sign it would break out of it soon, brokers said.

The New York Board of Trade’s key March cotton contract fell 0.45 cent to finish at 55.97 cents a lb, trading from 55.92 to 56.40 cents. It was an inside day since the range was within Thursday’s 55.86 to 56.55 cents band.

May eased 0.58 to 57.38 cents.

Distant months declined from 0.30 to 0.57 cent.

We’re stuck in a range and getting influenced by the index (funds), said Frank Weathersby of brokers Affinity Trading in Fort Walton Beach, Florida.

He was referring to investment funds with billions of dollars in their coffers who have expanded sharply their holdings in commodities, including cotton.

Analysts said the fundamental focus of the market will be turning toward the pace of demand for US cotton and upcoming projections on likely US cotton plantings in the 2006/07 marketing year (August/July).

The US Department of Agriculture had already projected US cotton plantings in 2006/07 at 14 million acres, against plantings in 2005/06 at 14.2 million acres.

The main industry group National Cotton Council will release its own survey of potential US cotton plantings at 5:30 p.m. EST (2230 GMT).

Activity in cotton was subdued for the most part, with most players seemingly content to allow the key March contract to finish near 56 cents where most players were positioned for options expiration.

The only way to describe today was dull, especially since nobody wanted to push it away from 56 (cents, basis the March contract), a dealer said.—Reuters