U.S. plans to save the banking industry to reach an agreement, (ICE) Cotton futures Friday Taicuo

Intercontinental Exchange (ICE) Cotton futures Taicuo Friday, traders said, because investors closed positions, and the market for the next move will mostly depend on whether the U.S. Congress over the weekend in the United States plans to save the banking industry to reach an agreement.

Indicators in December cotton futures contract CTZ8 fell 1.28 cents to close at 60.38 cents a pound, after trading range between 60.20-61.60 cents .3 month CTH9 cotton fell 1.30 cents to 64.90 cents .1833 GMT, December cotton futures trading volume of the total reported 6099.

Bush (Bush) government rescue package proposed by the failure to reach an agreement, in the cotton futures market closed off the site, traders said. Refers to the cotton futures market analyst is not a fundamental factor in the transaction. Autumn cotton harvest under way, and a number of transactions Those who try to figure out whether the marketing year 2008/09 (August / July) there will be tighter credit supply or demand affected.

The outlook in the United States Department of Agriculture (USDA) on Oct. 4 announced the next monthly report on supply and demand reflected. Brokers Flanagan Trading that the December cotton futures contract in support 60.25 and 59.60 cents, resistance in the 61 and 62.90 Cents. Stock Exchange data showed Thursday of the total volume of 9592. As of September 25 open positions or 337, to 202,414.