# Cotton Highlights from December WASDE Report

Author: Jim Steadman
Published: 2021-12-13
Canonical URL: https://www.cottongrower.com/market-analysis/cotton-highlights-from-december-wasde-report-6/

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USDA has released its [World Agricultural Supply and Demand Estimates (WASDE) report for December 2021.](https://downloads.usda.library.cornell.edu/usda-esmis/files/3t945q76s/m039m632s/r781xh99m/wasde1221.pdf) Here’s this month’s summary for cotton:

**The U.S. cotton 2021/22 supply and demand forecasts are largely unchanged this month, with only a slight increase in production. The U.S. production forecast is raised about 0.5% as higher yields in other regions offset lower yields for the Southwest. U.S. exports, mill use, and ending stocks are unchanged from their November forecasts. Upland cotton’s projected season-average price is also unchanged from November, at 90 cents per pound – 36% above its year-earlier level.**

**Projected 2021/22 world cotton ending stocks are 1.2 million bales lower this month due to lower beginning stocks, lower production, and slightly higher consumption. Historical adjustments to Indian production over 2018-2020 reflect updated official estimates from India, resulting in a net 500,000-bale decline in 2021/22 beginning stocks there, and accounting for most of a 700,000-bale decline in global beginning stocks. Projected world production in 2021/22 is 200,000 bales lower this month as a 1.0 million bale drop in Pakistan more than offsets gains in Benin, Turkey, Uzbekistan, and Cameroon.**

**World cotton trade is forecast 300,000 bales higher this month as higher expected imports for Pakistan, Vietnam, and smaller markets in Central America and Southeast Asia more than offset a 250,000-bale decline for China. Exports are projected higher for Brazil and the Franc Zone.**