2009/10 cotton stocks & season average price revised

13 Oct '10

4 min read

In addition, ending stocks were unchanged in October at 2.7 million bales, 8.5 percent below the final 2009/10 ending stocks. The stocks-to-use ratio is forecast at 14 percent compared with last season's 19 percent. Both the stock level and ratio are at their lowest since 1995/96. As a result, cotton prices have remained relatively high through the early months of the current season. The 2010/11 average upland cotton farm price is now forecast to range between 67 and 79 cents per pound. The midpoint of 73 cents would represent a 10-cent jump from last season.

2009/10 U.S. Stocks and Season Average Price Revised
Based on the latest supply and demand estimates, U.S. ending stocks for 2009/10 are estimated at 2.95 million bales based on data released by the Census Bureau and adjusted to the marketing year. Stocks were at their lowest in 14 seasons, while the stocks-to-use ratio was at its lowest in 6 seasons. In October, the final 2009/10 season average price was released by USDA, with the final estimate of 62.9 cents per pound up slightly from a month earlier. Last season's average was the highest since 65.2 cents was recorded for the 1997/98 season.

U.S. Department of Agriculture (USDA)

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