Global cotton stocks to decline in 2006/07

19 Jun '06

5 min read

United States Department of Agriculture (USDA) Economic Research Service (ERS) announces Cotton and Wool Outlook:

The latest U.S. Department of Agriculture (USDA) projections for 2006/07 forecast global cotton stocks to decline after being nearly unchanged in 2005/06. World ending stocks are currently projected at 47.1 million bales for 2006/07, 11 percent (nearly 6 million bales) below the current season and the lowest since 2003/04.

The 2006/07 stock reductions are forecast to come from a number of countries, including China and the United States. Stocks in China are expected to continue the downward trend that started 7 years ago.

Forecast at 11 million bales for 2006/07, China's stocks are 2 million below the current season's estimate and the lowest since 1994/95. U.S. ending stocks are also forecast to decline in 2006/07, from 6.6 million bales to 4.9 million, the lowest since 2003/04. Stocks outside the United States and China are also forecast to decrease. In 2006/07, these stocks are estimated at 31.2 million bales, 2.2 million below the current season and the lowest in 3 years.

U.S. Cotton Crop Progress and Conditions Mixed in Early 2006
U.S. planting progress of the 2006 cotton crop was complete or nearly complete in most States as of June 4th; the exceptions were Texas and Oklahoma (each 86 percent planted) and Kansas (50 percent), although both Texas and Oklahoma were ahead of their respective 5-year averages.

Overall, 93 percent of the U.S. cotton crop was reported planted by early June, compared with 89 percent last year and a 5-year average of 88 percent.

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