# Cotton Highlights from June WASDE Report

Author: Jim Steadman
Published: 2019-06-11
Canonical URL: https://www.cottongrower.com/market-analysis/production-outlook-acreage/cotton-highlights-from-june-wasde-report-4/

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The [June 2019 World Agricultural Supply and Demand Estimates](https://downloads.usda.library.cornell.edu/usda-esmis/files/3t945q76s/41687t15q/k0698h679/latest.pdf) (WASDE) report has been released by USDA. Here’s this month’s summary for cotton:

**The 2019/20 U.S. cotton supply and demand projections are unchanged from last month, with the exception of a 1-cent decline in the season-average upland farm price to 64 cents per pound. The 2018/19 U.S. cotton balance sheet is unchanged.**

**The world 2019/20 cotton projections include higher beginning stocks, slightly lower production, lower consumption and trade, and higher ending stocks. Ending stocks for 2019/20 are projected 1.6 million bales higher than in May, due to a 1.1-million-bale increase in beginning stocks and a 660,000-bale decline in consumption. Beginning stocks are higher largely due to larger 2018/19 production in India and lower 2018/19 consumption in China. World consumption and imports in 2019/20 are projected lower largely due to a 500,000-bale decline in each variable’s forecast for China. Lower exports are expected for Australia due to lower production, but higher expected exports from India are partly offsetting.**