Mumbai - Cotton futures started the last session of the month downwards, and were trading lower amid profit-booking by traders and speculators on both the domestic exchanges Friday. While MCX April-08 futures fell Rs 1.80/20kg, the NCDEX April-08 cotton futures were down Rs 1.50/20kg.

Pit-traded world raw sugar futures slid Thursday on ICE Futures US, retrenching from Wednesday's two-week highs as speculators exited and trade houses sold after producer selling kept the March contract from clearing the 10-cent-a-pound barrier. Pit March ended down 15 points at 9.79 cents a pound, with May off 14 points at 10.09 cents.

Earlier, at the spot markets on Thursday, cotton lint traded almost steady as deals did not take place at higher prices despite demand from millers across north India. Total kapas arrival across north India was recorded at 26,000 bales.

In the western parts, cotton lint prices fluctuated on both sides amid strong demand from south Indian millers. Traders said, demand from exporters has stopped, but the market is being supported by the fresh demand from mills situated in southern states.

At 10.19 am IST, benchmark NCDEX April-08 cotton futures down Rs 1.50 at Rs 468.80/20kg, after fluctuating between Rs 467.30 and 469.00 per 20kg. Open interests in April-08 cotton was 5838 lots. NCDEX March-08 cotton down Rs 2 to trade at Rs 463.00/20kg. Open interests for the contract were positioned at 584 lots.

MCX April-08 futures down Rs 1.80 at Rs 450.10/20kg.

[Source: Dow Jones Newswire, MCX & NCDEX]