By admin       2018-04-16

The 2017/18 U.S. cotton supply remains estimated at 23.8 million bales, 2.8 million bales above the previous season and the largest since 2007/08. Beginning stocks are estimated at nearly 2.8 million bales while U.S. production is estimated at 21.0 million bales. USDA will release updated 2017/18 production estimates on May 10. While the supply forecast remained steady, the U.S. cotton export estimate was raised slightly in April based on the continued strength of sales and shipments. U.S. cotton exports are forecast at 15.0 million in 2017/18, marginally above last season’s shipments and the second highest on record, behind only the 17.7 million bales exported by the United States in 2005/06. Based on USDA’s U.S. Export Sales data, U.S. cotton shipments had reached 8.6 million bales at the end of March, or 58 percent of the latest projection; last season, exports had reached 9.0 million bales, or 60 percent of final exports. Although export commitments (shipments plus outstanding sales) at the end of March had surpassed this season’s projection, a portion of annual sales are traditionally rolled into the next season, and the cancellation of some sales also remains a possibility. Nevertheless, shipments will need to remain strong through the end of the marketing year; based on the current estimate, the 2017/18 U.S. share of global trade is expected to reach 38 percent, compared with 40 percent in 2016/17.

Download App

# #

Member Login