US Cotton Output Continues To Increase, Global Stocks Drop Sharply

according to

In October, the Ministry of Agriculture released the Global Forecast of production and demand. The US 2018/19 production increased slightly, export volume was reduced, and the inventory at the end of the year increased.

Output increased by 81 thousand packs, and the increase in Texas offset the decrease in production in Georgia and North and South Carolina.

The amount of cotton used in the United States remains unchanged, and exports are reduced by 200 thousand to 15 million 500 thousand bales, due to a reduction in global import and consumption forecasts.

The end of the US inventory is expected to be 5 million packs, the inventory consumption ratio is 26%, higher than last month's forecast, and is the highest level since 2015/16.

The average farm price in the US is 73 cents, down by 2 cents.

On the global side, the reduction in consumption was offset by a sharp decline in cotton production and initial inventory, and the global end inventory fell by 4%.

The end of the India stock reduction is due to the revision of 2002/03-2013/14's historical data.

Australia's output cut, output in Greece and the United States increased, consumption and imports dropped in Turkey, inventories were reduced by 2 million 900 thousand packages at the beginning of the world, and 3 million packages at the end of the year, a 6 million 400 thousand decrease compared to the same period last year, mainly due to a 8 million 200 thousand reduction in inventory at the end of the year.

(the pictures are all from the Internet)