U.S. Cotton Supply, Demand

By Jim.Robinson|March 17, 2009

In its March report, USDA gauged U.S. 2008/09 cotton production at 13.04 million bales. Mill use was lowered 150,000 to 3.75 million bales and exports increased 500,000 to 12.00 million bales, based on recent export sales indicating a stronger U.S. share of world trade than previously projected.

The estimated total offtake now stands at 15.75 million bales generating ending socks of 7.3 million.

USDA released 2009/10 projections during last month’s Agricultural Outlook Forum.

U.S. production is estimated to be 13 million bales for 2009/10. Mill use is set at 4 million, while exports are expected to fall to 11.00 million. The estimated total offtake stands at 15 million bales. With beginning stocks of 7.3 million bales, this would result in U.S. ending stocks of 5.3 million bales on July 31, 2010, and a stocks-to-use ratio of 35.3%.