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Cotton slips to two-week low on harvest-friendly weather

April 29 (Reuters) - ICE cotton futures fell 1 percent to touch a two-week low on Monday, as weather conditions across the U.S. cotton growing areas improved for harvesting the natural fiber crop.

* The most-active cotton contract on ICE Futures U.S. July

settled down 0.75 cent, or 0.97 percent, at 76.95 cents per lb.

* The second-month contract fell to its lowest level since April 15 at 76.85 per cents.

* "Improved weather conditions across the U.S. are weighing on prices along with lower corn acreage across the southern U.S., which will likely translate in to higher cotton acreage," said Louis Rose, director of research and analytics at Tennessee-based Rose Commodity Group.

* The outlook for cotton prices, however, remained bullish, with good demand for the natural fiber, according to analysts.

* Meanwhile, White House economic adviser Larry Kudlow said he remains cautiously optimistic about prospects for a U.S.-China trade deal and that he was expecting a much clearer picture on a trade deal by end of the next two weeks.

* Market participants are keeping a close watch on weather conditions across the United States and any update on U.S.-China trade negotiations, said Jack Scoville, vice president at Price Futures Group in Chicago.

* Total futures market volume fell by 1,842 to 22,309 lots. Data showed total open interest fell 1,667 to 210,167 contracts in the previous session.

* Certificated cotton stocks <CERT-COT-STX> deliverable as of April 25 totaled 64,241 480-lb bales, up from 62,657 in the previous session.

(Reporting by Brijesh Patel in Bengaluru Editing by Chizu Nomiyama)