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Domestic mill use & exports unchanged, USDA
13
Jan '10
United States Department of Agriculture (USDA) approves world cotton supply and demand estimates. The 2009/10 U.S. cotton estimates include slight decreases in production and ending stocks compared with last month. Production is lowered by 191,000 bales, as reductions in the Southeast, Delta, and Southwest states are partially offset by increases in the far West.

Domestic mill use and exports are unchanged. The ending stocks forecast is reduced to 4.3 million bales, or 30 percent of total use. The forecast range of 57 to 64 cents per pound for the average price received by producers is raised 1 cent on the lower end.

The world 2009/10 cotton estimates are virtually unchanged from last month. Increases in production for China and Brazil are offset by decreases for India, the United States, Australia, and others. World consumption is lowered marginally due to reductions for Japan and Russia.

Minor adjustments are made to world trade. The world ending stocks forecast of 51.7 million bales reflects a 15-percent decrease from the beginning level. World stocks outside of China of 34.2 million bales are forecast at their lowest since 2003/04.

United States Department of Agriculture

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