No new follicles develop in the luteal phase of the menstrual cycle because

No new follicles develop in the luteal phase of the menstrual cycle because both FSH and LH levels are low in the luteal phase. During follicular phase, FSH initiates the development of follicles. FSH and LH promote further growth of follicles. LH surge causes ovulation during mid-cycle. As both FSH and LH levels are low, no further development of follicles takes place during luteal phase.