Aug 22 (Reuters) -ICE cotton futures gained on Tuesday as hot and dry weather conditions in the key U.S. growing regions raised concerns about supply.
* The most-active December cotton contract CTZ3 rose 0.9 cents, or 1.08%, to 84.61 cents per lb at 11:47 a.m. EDT (1547 GMT).
* Cotton is up on "continued poor weather for Texas and what I would call decent demand; it's not robust, but it's not poor either," said Rogers Varner, president of Varner Brokerage, in Cleveland.
* The U.S. Department of Agriculture (USDA), in a weekly crop progress report on Monday, said 33% of the cotton crop was in good to excellent condition compared with 36% a week ago. The USDA added 81% of U.S. cotton was planted in the week ended Aug. 20, compared with 72% a week ago.
* Power demand in Texas and other U.S. central states was on track to hit record highs this week as homes and businesses crank up their air conditioning to escape another brutal heat wave moving slowly across the country.
* China is having problems but they continue to buy US cotton along with other sources, Varner added.
* Last week, the U.S. Department of Agriculture's (USDA)weekly export sales report showed net sales of 138,400 running bales (RB) for 2023/2024 to China.
* Chicago soybean and corn futures ticked higher while wheat also rose, recouping some of Monday's losses as a weekly U.S. government report showing an unexpected decline in spring wheat conditions put attention back on supply risks. GRA/
Reporting by Rahul Paswan in Bengaluru; Editing by Shailesh Kuber