USDA lowers US cotton production to 20.82 million bales
The November US production figure, at 20.82 million bales, represents a 890,000 bale decrease from last month’s 21.71 million, with USDA citing lower output in the Southwest. Mill use and exports were unchanged at 3.0 and 16.5 million bales, respectively. Ending stocks are now projected at 6.1 million bales for 2019/20, lower than last month’s 7.0 million.
Yield is expected to average 799 pounds per harvested acre, down from 833 pounds last month and 864 pounds from last year.
In its fourth state-by-state estimate, production modestly increased for the Southeast and Far West, but were offset by reductions in the Delta and Southwest.
The world estimates include lower production, at 121.94 million, slightly lower consumption at 121.49 million and smaller ending stocks at 80.80 million bales. “World production is reduced nearly 3.0 million bales, with reductions occurring primarily in the United States, Pakistan, India, and China. There are also smaller declines in the production estimates for Turkey and Turkmenistan,” USDA said.
- ICE No. 2 cotton settles sharply lower
- Open, unseasonably warm conditions rule across most of US cotton belt
- ICE cotton lower
- ICE No. 2 cotton settles lower
- Open skies and unseasonably warm weather rules across most of US cotton belt
- ICE cotton on moderate losses