May 8 (Reuters) - ICE cotton futures fell for a second consecutive session on Tuesday amid a stronger dollar as traders adjusted their positions ahead of the U.S. supply, demand report on Thursday.
* The most active ICE cotton contract for July expiry CTc2 CTN8 settled down 0.61 cent, or 0.71 percent, at 85.38 cents per lb.
* The contract traded within a range of 85.11 and 86.87 cents a lb.
* "The U.S. dollar index continues to strengthen, which could pressure cotton futures prices," Louis Rose, director of research and analytics at Tennessee-based Rose Commodity, said in a note.
* The dollar index .DXY was last up 0.40 percent, hitting its highest in 2018 at 93.280.
* The U.S. Department of Agriculture's World Agricultural Supply and Demand Estimates (WASDE) report is due on Thursday.
* Market participants are keeping a close watch on rain in Texas, the major cotton-growing region in the United States.
* ICE cotton contract for December expiry CTZ8 fell 0.3 percent to 80.10 cents.
* There is rain forecast in Lubbock, West Texas, next Wednesday that may not be enough, but it is a good start, Rogers Varner, president of Varner Brokerage in Cleveland, Mississippi, said.
* The USDA in its weekly crop progress report released on Monday showed the 2018 U.S. crop was 20 percent planted, on par with the rolling five-year average.
* Total futures market volume fell by 10,086 to 29,491 lots. Data showed total open interest gained 3,961 to 285,626 contracts in the previous session.
* Certificated cotton stocks CERT-COT-STX deliverable as of May 07 totaled 73,541 480-lb bales, up from 73,202 in the previous session.
Πηγή: Reuters