Effects of moisture stress during different stages of cotton development were examined in two experiments when temperatures were mild and evapotranspiration less than 6 mm./day. Two varieties of upland cotton, Acala 4–42 and Deltapine Smoothleaf, were affected similarly. Moisture stress at the beginning of flowering reduced growth rate and the numbers of flowers and bolls. During the second half of the flowering period it reduced the percentage of boll retention, boll number, boll weight, seed index, lint index and lint length. Stress during boll development had similar effects and caused earlier maturity. Lint yield was reduced significantly by moisture stress during each of the periods but tensile strength of lint was not affected. Three irrigations, if properly timed so that no appreciable moisture stress occurred, were sufficient for high yields and good quality of lint, and the first could be postponed until after flowering began without any loss in yield.