By admin       2018-02-09

The 2017/18 U.S. cotton supply and demand forecasts show slightly lower exports and higher ending stocks relative to last month. *Production and domestic mill use are unchanged. The export forecast is lowered 300,000 bales to 14.5 million based on a lagging pace of shipments to date. *Ending stocks are now estimated at 6.0 million bales, equivalent to 34 percent of total disappearance. *The marketing year average price received by producers is projected to average between 67 and 71 cents per pound, unchanged from January’s range. *The 2017/18 world cotton forecasts include slightly higher production, lower consumption, and higher ending stocks. *World production is 400,000 bales higher than last month, as higher estimates for China, Brazil, and South Africa offset lower expectations for India and Australia. *Global consumption is forecast 325,000 bales lower, as decreases for India and Thailand offset an increase for Vietnam. *World ending stocks are projected 760,000 bales higher as a 1.1-million-bale increase in China’s projected ending stocks—and higher U.S. stocks—offsets declines for India, Australia, Turkmenistan, Tajikistan, and Vietnam.

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