Mike Stevens of SFS Futures in Mandeville, Louisiana, said the pace of activity was exceedingly slow and most of the running in cotton was provided by players moving their positions out of March and into the forward months.
"All we've done is recouped the losses from last Friday," said Stevens.
"The only thing I've done is to lean back, close my eyes and yawn," added a floor dealer. "There is very little on the horizon about reports coming up except for sales."
The dealer was alluding to the weekly US Department of Agriculture's weekly export sales data due out every Thursday.
Fundamentally, the market must contend with the record US cotton harvest and similarly plentiful crops in other places like India and China.
But robust consumer demand has prevented futures from getting pounded in the market and prices have remained well supported above 42 cents, basis the spot month in New York.
The weekly New York Board of Trade spec/hedge report showed the funds reducing their net long position in the market to 8.5 percent from a net long standing in the preceding week of 23.3 percent.
"The report shows that (funds) have trimmed their net long position dramatically in the past week and the longs remaining may be Index Fund longs," said a daily commentary by brokers Flanagan Trading Corp.
Flanagan sees support in the March contract at 43.55 and 43.05 cents, with resistance at 44.55 and 45.35 cents.
Floor traders said final estimated volume amounted to 15,000 contracts, from Monday's tally of 15,616 lots. Open interest fell one contract to 90,961 lots as of January 31.