NEW YORK, Sept 7: NY cotton futures ended with fractional losses on Friday on modest speculative pressure, with the weekly USDA export sales data adding to the depressed sentiment in the market.

December cotton fell 0.52 cent to settle at 45.12 cents a lb, trading 45.05-45.85 cents. March lost 0.57 cent to 47.24 cents and the rest retreated 0.26-0.50 cent.

It’s been nothing to write home about, Sharon Johnson, cotton expert at Frank Schneider and Co. Inc. in Atlanta, said in describing the mostly dull tone of dealings in futures at the end of the week.

She said the weekly USDA export sales report added to the glum felt in futures.

USDA said net upland cotton sales touched 61,300 running bales (RBs, 500-lbs), below trade expectations they would hover from 70,000-100,000 RBs.

I think that’s (the USDA data) why we stayed down for most of the day, said Johnson, adding though that attempts to touch off sell-stops believed to be sitting at 45 cents, basis December, faltered.

If US cotton sales persist at their current levels, questions would increase whether US cotton exporters can hit the USDA projection that US cotton sales would amount to 11.2 million (480-lb) bales in 2002/03.

Technicians said resistance in the December cotton contract remained at 46 and 47 cents while support would be at 45 and 44.60 cents.

Floor dealers said estimated final volume touched 4,300 lots versus Thursday’s count of 10,094 lots.

Open interest rose 627 to 71,341 lots as of Sept 5.—Reuters