# Cotton Highlights from February WASDE Report

Author: Jim Steadman
Published: 2020-02-17
Canonical URL: https://www.cottongrower.com/market-analysis/cotton-highlights-from-february-wasde-report-5/

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The [February 2020 World Agricultural Supply and Demand Estimates](https://downloads.usda.library.cornell.edu/usda-esmis/files/3t945q76s/pz50hc74s/pz50hc752/latest.pdf) (WASDE) report has been released by USDA. Here’s the monthly cotton summary:

**The U.S. cotton estimates for 2019/20 are unchanged, except for a 1 cent-per pound reduction in the season-average upland farm price to 62 cents, 8.3 cents lower than in 2018/19.**

**The 2019/20 world cotton forecasts include a 2.5 million bale increase in ending stocks, driven by both larger production and lower consumption. A 1 million bale decline in China’s expected consumption is the largest single change this month – consumption is lower despite the positive impact of the U.S.-China trade agreement, due in part to the negative economic effects of the novel coronavirus outbreak.**

**Consumption is also projected lower in Vietnam but higher in Pakistan and Turkey. Production in Brazil in 2018/19 is revised upward by 480,000 bales, reflecting higher production in Mato Grosso. Pakistan, Brazil and Tanzania production in 2019/20 is revised upward.**

**Total production changes this month come to a 1.3 million bale global increase, while total consumption changes net to a 1.2 million bale reduction.**