NEW YORK (Dow Jones)--Cotton prices slipped Tuesday in tandem with
commodities losses, as the market probed lower to find demand.

Nearby cotton for May delivery on ICE Futures U.S. settled 0.97 cent, or 1.2%
lower, at 83.05 cents a pound. The most-active July contract settled 0.69 cent,
or 0.8%, lower at 85.20 cents a pound.

Commodities futures, including Chicago Board of Trade grains and crude oil,
fell under pressure from the stronger dollar. The greenback rose on safe-haven
buying as euro-zone debt uncertainty resurfaced, making futures more expensive
in other currencies.

Cotton pared losses in late dealings as futures found buying from textile
mills at lows.

"The market probably got a little too pricey, ran away from demand a hair,
and is probably going to spend the rest of the week trying to find demand,"
said Andy Ryan, a risk management consultant at FCStone in Nashville.

Despite the day's losses, cotton prices have risen more than 60% in the last
year as demand rebounds. Clothing and linens are among the first items cut from
tight household budgets, but also some of the first to return. In the current
crop year, world consumption is expected to surpass production by 15%, U.S.
Department of Agriculture data show.

The July contract has support at 84 cents, analysts said.

The U.S. cotton crop for the coming season was 16% planted in the week ended
April 25, up from 11% the week before but lower than the 18% average, USDA data
show.

Favorable planting weather and soil conditions will limit upward momentum in
the market, one cotton analyst noted.

Traders will look at weekly U.S. cotton export sales to be released on
Thursday for demand cues.

"As long as export markets remains strong, you're going to see bids stand in
this market," the analyst said.

ICE daily cotton stocks increased by 10,713 500-pound bales Monday to total
1.001 million with 23,241 bales awaiting review and 32 decertification orders,
according to exchange data.

ICE cotton open interest, or the number of active positions left at the end
of the session, decreased by 1,228 positions Monday to total 188,995, according
to the exchange.

Volume was estimated 11,620 lots. In options, approximately 4,018 calls and
8,710 puts traded on the floor, according to exchange data.
Close Change Range
May 83.05 -97 pts 82.70-84.32
Jly 85.20 -69 pts 84.56-86.08
Dec 77.35 -25 pts 77.04-77.70