January 2003 Edition:
U.S. Exports Continue on Trend
U.S. exports are on track to meet the 10.8 million bales (10.38 million running bales) export forecast. Through January 2nd exports totaled 3.32 million running bales, 32.0 percent of the forecast total. Over the 1990/91 to 2001/02 period, exports in the 23rd week of the marketing year averaged 33.7 percent of total exports for the year. Weekly exports have also followed historical patterns. During the first quarter of the marketing year weekly exports, while variable, were relatively flat. Since then weekly exports have trended up at a significant rate and are currently at roughly 2.5 times the average for the first quarter. Historically weekly exports peak around the 30th week of the marketing year and then trend back down. For this season, stronger import demand is expected in China and India during the later part of the season.
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TABLE OF CONTENTS
World Cotton Outlook
U.S. Cotton Highlights
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