USDA Cotton WASDE April 8, 2022
The U.S. cotton 2021/22 supply and demand forecasts are unchanged from last month. The marketing year price received by upland cotton producers is projected at a record 91 cents per pound, up 1 cent, reflecting recent high prices. The February 2022 upland farm price reached a record 100 cents per lb.
The global 2021/22 cotton estimates are also small, with higher production and lower consumption resulting in an 800,000 bale increase in ending stocks, to 83.4 million. Production is forecast 340,000 bales higher, with increases for Pakistan and Greece. A 500,000 bale decline in China’s expected consumption resulted in a smaller decline in the global estimate, which now stands at 124.1 million. World trade is projected about 450,000 bales lower this month, with exports projected lower for India, Brazil, and Malaysia.