Cotton falls with other commodities, snaps three days of gains

Cotton futures fell on Tuesday, snapping three days of gains driven by an overall downtrend in commodities.
"You got a lot of influence from outside markets," said Louis Rose, independent cotton trader and consultant with Risk Analytics in Memphis, Tennessee.
"It is sort of a risk off day." On Monday, a short-covering rally propelled cotton prices to their biggest daily gain in more than three.
The front-month May contract on ICE Futures US settled down 0.05 cent, or 0.09 percent, at 58.24 cents per lb, after hitting a low of 58 cents.
Total futures market volume fell by 4,659 to 21,379 lots. Data showed total open interest gained 1,115 to 214,039 contracts in the previous session.
The dollar index was down 0.01 percent. The Thomson Reuters CoreCommodity CRB Index, which tracks 19 commodities, was down 0.76 percent.