Cotton futures fell sharply during the holiday-shortened trade week but managed to recoup most of the losses.

• The May contract reached a life-ofcontract high on Friday after a busy week of trading.

• March futures were active as traders were clearing up or rolling positions forward leading up to the contract’s First Notice Day on Friday.

• China returned to the marketplace this week, but the anticipated buying proved to be disappointing.

• May futures settled at 94.46 cents per pound, down 85 points for th…