Cotton futures saw a modest retreat this month, they started trading at $93.40 cents per lb on the 1st, and closed at $90.44 on February 29th. Prices saw their steepest price swing on the 7th, as futures tumbled the most in two months on signs that demand in China, the world’s biggest consumer, was retreating. Cotton futures were able to gain back some of their losses, mid-month, following a USDA report showed Global cotton output will fall 3.9 percent to 118.5 million bales in the year beginning Aug. 1 from an estimated 123.3 million in the current season. The USDA also added that flobal consumption will increase to 114.5 million bales from 109.7 million. On the last two trading days of the month, prices saw a steep decline, which analysts attributed to investor liquidation, and a firming greenback.