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USDA latest estimate cuts 2014 US cotton crop by 3%
18 Dec '14
4 min read
Despite a lower volume of shipments by the United States in 2014/15, USDA predicts that US share of global trade is projected to rise from 26 per cent to 29 per cent.
Due to the production change this month, US ending stocks are now forecast at 4.6 million bales, more than 2 million bales above the beginning level.
Both the stocks and the stocks-to-use ratio are estimated at 33 percent and would be the highest since 2008/09.
Based on the latest supply and demand outlook for 2014/15, the average upland cotton farm price is now forecast to range between 59 and 64 cents per pound, down from the final 2013/14 price of 77.9 cents per pound. (AR)
Fibre2fashion News Desk - India
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