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Tuesday, June 19, 2018 ..:: News ::..   Login

Release Date:  June 12, 2018

The most significant revision to this month's U.S. cotton supply and demand estimates is a 500,000 bale increase in 2017/18 exports, to 16.0 million bales, due to above-average late-season shipments.  U.S. ending stocks are now forecast at 4.2 million bales in 2017/18, and 4.7 million bals in 2018/19, for a stocks-to-use ratio of 25 percent.  The projected range of the marketing year average farm price is raised 5 cents at each end to 60-80 cents per pound.

The 2018/19 world projections include lower production for China, Pakistan, and Australia offset in part for higher production for Brazil.  World production is nearly 800,000 bales lower this month, while 2018/19 consumption is reduced only 85,000 bales, as a 225,000 bale reduction for South Korea is largely offset by increases for Uzbekistan and Vietnam.  World beginning stocks for 2018/19 are unchanged from a month earlier, but ending stocks are 725,000 bales lower.  At 83.0 million bales, 2018/19 world ending stocks are projected 5.2 million bales lower than a year earlier, but stocks outside of China are expected to rise for the third consecutive year.

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