This month's U.S. cotton forecasts for 2007/08 include marginally higher production, lower exports, and higher ending stocks. Production is raised 46,000 bales to 19.0 million. Domestic mill use is unchanged.
Exports are lowered 200,000 bales to 16.0 million, due to sluggish shipments to date and lower imports by China. Accordingly, ending stocks are raised nearly 3 percent from last month to 7.9 million bales.
The 2007/08 world cotton forecasts include lower beginning stocks, production, consumption, trade, and ending stocks compared with last month. Production is reduced in China, Pakistan, the African Franc Zone, and Syria, but raised in India.
Slightly lower world consumption reflects reductions for India and Taiwan. World trade is reduced 500,000 bales due to lower forecast imports by China and Taiwan, which are partially offset by an increase for Pakistan. World ending stocks are lowered about 500,000 bales.
Cotton Council International
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