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USDA raises global cotton production & stocks in latest WASDE report

13 Jun '24
2 min read
USDA raises global cotton production & stocks in latest WASDE report
Pic: Adobe Stock


  • USDA's latest WASDE report raises global cotton production and ending stocks.
  • For 2024-25, US beginning and ending stocks are also increased, while world trade projections are unchanged.
  • World ending stocks are now projected at 83.5 million bales.
  • US cotton projections show higher beginning and ending stocks, with average farm price down to 70 cents/pound.
The US Department of Agriculture (USDA) has raised global cotton production and ending stocks in its latest World Agricultural Supply and Demand Estimates (WASDE) report, released yesterday. It has also increased its projections for the beginning and ending stocks of US cotton. For the 2024-25 season, beginning stocks and consumption of cotton have increased, but the world trade projection remains unchanged.

According to the WASDE report, world ending stocks are projected to be 480,000 bales higher than in May, at 83.5 million bales of 480 pounds each. The forecast for production has been raised by 90,000 bales, to 119.14 million bales, based solely on higher area and yield in Myanmar. Consumption was raised by 80,000 bales, to 116.94 million bales, with increases in Vietnam and Myanmar offsetting reductions elsewhere. Revisions to the 2023-24 world balance sheet include higher beginning stocks and production, with reduced trade and consumption, raising ending stocks by approximately 500,000 bales. The ending stock was projected to be 83.49 million bales globally.

The 2024-25 US cotton projections show higher beginning and ending stocks compared to last month. Projected production, domestic use, and exports are unchanged. The 2024-25 season average upland farm price is down 4 cents from the May forecast to 70 cents per pound, following a decline in new-crop cotton futures. Ending stocks are 400,000 bales higher, at 4.1 million, or 28 per cent of use. Revisions to the 2023-24 US cotton balance sheet include a 500,000-bale reduction in exports, to 11.8 million, based on the slowing pace of export shipments, a 50,000-bale increase in domestic use, and a 450,000-bale gain in ending stocks.

Fibre2Fashion News Desk (KUL)

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