U.S. Production Affected
by Drought but Strong World Demand Supports Exports
The forecast for U.S. production
for MY2000/01 decreased by 844,000 bales, 4.4 percent, from last
month due to the drought and heat in the Delta and Southwest
regions. However, the U.S. consumption forecast remains
unchanged. Continued strong world demand, at a record 92.6
million bales, and relatively tight foreign stocks, the lowest
level in 6 years, indicate continued demand for U.S. cotton. The
decrease in U.S. supply of over 900,000 bales increased the
export share of available supply to 65 percent, the highest in
two years. Even with a 700,000-bale decrease, U.S. ending stocks
of 4.2 million bales remain at the highest level since 1992/93.
However, the stocks-to-use ratio, 23.2 percent, is the same as
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TABLE OF CONTENTS
U.S. Cotton Outlook
World Cotton Outlook
U.S. Cotton Highlights
Chinas Exports More than Double; United States Remains Top Exporter.
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