# U.S. Production, Mill Use and Exports Remain Unchanged

Author: Jim.Robinson
Published: 2011-03-15
Canonical URL: https://www.cottongrower.com/cotton-production/u-s-production-mill-use-and-exports-remain-unchanged/

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In its March report, USDA projected the 2010/11 US cotton crop to be 18.32 million bales, unchanged from the February report.

Both U.S. mill use and exports were unchanged at 3.60 million bales and 15.75 million bales, respectively. This generates a total 2010/11 offtake of 19.35 million bales. Ending stocks for 2010/11 are projected to be 1.90 million bales for an ending stocks-to-use ratio of 9.8 percent.

USDA released 2011/12 projections during last month’s Agricultural Outlook Forum. U.S. cotton production is estimated to be 19.5 million bales for 2011/12. Mill use is set at 3.50 million bales while exports are reported to drop slightly to 15 million bales. The estimated total offtake stands at 18.5 million bales. With beginning stocks of 1.9 million bales, this would result in U.S. ending stocks of 2.9 million bales on July 31, 2012, and a stocks-to-use ratio of 15.7 percent.

The USDA March report lowered 2010/11 world production by 300,000 bales from the February report to 114.95 million bales. World mill use was increased 60,000 bales to a projected 116.61 million bales. Consequently, world ending stocks for ’10-11 are projected to be 42.33 million bales for a stocks-to-use ratio of 36.3 percent.

USDA released 2011/12 world projections during last month’s Agricultural Outlook Forum. World production is estimated at 127.50 million bales for the 2011/12 crop year. Mill use is set at 120 million bales. With beginning stocks of 42.33 million bales, this would result in world ending stocks of 49.83 million bales on July 31, 2012, and a stocks-to-use ratio of 41.5 percent.