USDA leaves US production unchanged at 14.41 million

In its latest monthly statistical release, Washington left everything unchanged in its US cotton report for the month of March. Production remains at 14.41 million bales, domestic use at 1.7, exports at 11 million, beginning stocks at 3.15 million and ending stocks at 4.9 million.

World numbers reflected slightly higher output at 120.96 million (versus 120.46 million in February) and higher consumption at 116.54 million (up from 115.95 million in the previous estimate). Global ending stocks are now projected at 78.33 million bales, lower than February’s 78.41, with China holding 37.67 million bales (up from 37.42 last month). World exports were modestly increased, now projected at 42.71 million, compared with 42.51 the previous month. USDA said, “Higher production for China more than offsets reductions for Pakistan and Argentina. Consumption is raised for Pakistan, Bangladesh and Egypt, more than offsetting small changes elsewhere. Exports by Brazil and Turkey are increased, exceeding reductions for Australia and Egypt. Imports by China are lowered but are more than offset by increases for Pakistan, Bangladesh and Egypt. Ending stocks for 2024/25 are lowered 80,000 bales.”

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