The United States Department of Agriculture (USDA) reports: Cotton production and ending stocks for 2019/20 are both increased
On March 10, 2020, the U.S. Department of Agriculture released its monthly global cotton supply and demand forecast. Cotton production and ending stocks for 2019/20 were both increased. Total consumption is reduced by 185,300 tons. Although the consumption of Bangladesh and Turkey is increased, it can only slightly offset the decrease of 218,000 tons in mainland China. Total production is raised by about 54,500 tons, as projected increases in Brazil, Chad and Tajikistan outweigh the decreases in the United States and other regions. Global ending stocks for 2019/20 this month were increased by 283,400 tons, 697,600 tons higher than in 2018/19.
Regarding U.S. cotton data: U.S. cotton forecast output, prices and ending stocks for 2019/20 have all been revised downwards from last month. According to the processing report released on March 10, cotton production was reduced by 65,400 tons to 4.3164 million tons. Final forecasts for U.S. cotton acreage, yield and total production this season will be released in the May 2020 crop production report. Domestic textile cotton consumption and export volume were the same as last month, and the ending inventory was reduced by 65,400 tons to 1.1118 million tons. Cotton farmers are expected to receive an annual average price of 60.0 cents per pound, down 2 cents from last month.
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