"Everyone just got a bit long and there was no follow-through. Industry were not chasing it and there has been hedging around," a dealer said. Another dealer reported that funds were said to have sold over 2,000 lots on the New York market.
Volume on Liffe's March was also boosted by crosses, with 3,301 lots trading. The second-month contract ended 10 pounds down at 846 following an 839-855 range.
Total volume was 9,349 lots after a further 1,260 lots moved on July 2006.
Embassies in Ivory Coast advised their nationals to prepare for possible unrest as tension grows ahead of the October 30 end to President Laurent Gbagbo's mandate.
SUGAR DOWN: London white sugar futures closed down three percent on Friday after the World Trade Organisation ordered the European Union to limit sugar exports by May 22, a date earlier than expected by the sugar market, traders said.
Liffe December closed down $8.70 or 2.94 percent at $287.50 per tonne in volume of 6,816 lots after trading from $297.10 to $287.10.
March concluded down $7.7 or 2.53 percent at $297.0 in volume of 8,083 lots, having moved from $305.50 to $296.50.
"This ruling is significant because it (May 22) is earlier than the market thought," one senior market source said, adding that market operators had expected the limit to come into force in late June at the earliest.
COFFEE AT THREE-WEEK LOW London robusta coffee retreated to their lowest in almost three weeks on Friday, pressured by origin selling and liquidation of the front-month November contract, dealers said.
First tender day for Liffe's November is Tuesday, so much of the 19,716 lot volume came from spreads and trade Against Actuals.
November was $17 down at $926 a tonne after a $917-948 range on turnover of 9,523 lots.
Second-month January finished at $946, $18 lower after a $937-969 range amid turnover of 8,441 lots.
"There is some speculative selling," a dealer said.
He reported sell-stops around $950 on January and said trade and industry buying had helped limit losses.
The European cash market faced strong demand for spot delivery but roasters were not seen to be unduly worried about talk of a short-term supply squeeze, physical dealers said.