Tridge summary
The article reports on the updated U.S. cotton supply and demand estimates for the 2020/21 season. U.S. production is marginally decreased by less than 1 percent to 17.0 million bales, while domestic mill use, exports, and ending stocks remain unchanged. The season-average price for upland cotton is forecasted at 61.0 cents per pound, a 2-cent increase from last month.
Globally, cotton production is down by over 900,000 bales due to decreases in Mali, Pakistan, and Greece, despite a larger expected crop in Nigeria. Consumption is projected to increase by 1.5 million bales, primarily due to revisions in China and India. World trade is anticipated to rise by about 500,000 bales, driven by an increase in China's imported cotton. Finally, the article notes that world ending stocks for 2020/21 are now 2.7 million bales lower than last month, totaling 101.1 million bales, which is 89 percent of estimated consumption.
Globally, cotton production is down by over 900,000 bales due to decreases in Mali, Pakistan, and Greece, despite a larger expected crop in Nigeria. Consumption is projected to increase by 1.5 million bales, primarily due to revisions in China and India. World trade is anticipated to rise by about 500,000 bales, driven by an increase in China's imported cotton. Finally, the article notes that world ending stocks for 2020/21 are now 2.7 million bales lower than last month, totaling 101.1 million bales, which is 89 percent of estimated consumption.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The 2020/21 U.S. cotton supply and demand estimates show marginally lower production compared with last month. Production is lowered less than 1 percent, to 17.0 million bales. Domestic mill use, exports, and ending stocks are unchanged. At 7.2 million bales, U.S. ending stocks in 2020/21 are projected at 42 percent of use, compared with 41 percent in 2019/20. The 2020/21 season-average price for upland cotton is forecast at 61.0 cents per pound, 2 cents higher than last month and slightly above the final 2019/20 price of 59.6 cents. The 2020/21 world cotton supply and demand forecasts feature lower production, higher consumption and trade, and lower ending stocks compared with last month. Production is lowered more than 900,000 bales with declines in Mali, Pakistan, and Greece offsetting a larger expected crop in Nigeria. Consumption is 1.5 million bales higher, largely reflecting revisions for China and India. World trade is projected about 500,000 bales higher this ...
Source: Agfax
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