26/07/2017 – Bremer Baumwollbörse e.V. — auf Deutsch lesen
U.S. cotton production projected to increase in 2017
According to USDA’s initial projection for the 2017 crop, U.S. cotton production is forecast at 19.2 million bales, nearly 12 percent above the final 2016 estimate.
Based on the Prospective Plantings report, 2017 cotton area is estimated at 12.23 million acres, nearly 2.2 million acres above 2016. The increased planted acreage expectation is largely the result of higher relative prices that favor cotton over competing crops. Area for both upland and extra-long staple (ELS) cotton is forecast to expand in 2017.
In 2016/17, the largest U.S. cotton supply since 2010/11 and the high quality crop sought by foreign mills boosted demand for U.S. cotton to its highest level in 6 years. For 2017/18, U.S. exports account for the majority of U.S. cotton demand - 80 percent - but, at 14.0 million bales, U.S. exports are forecast 500,000 bales below the 2016/17 estimate. With increased competition and a global cotton trade projected to rise slightly in 2017/18, the U.S. share of world trade is expected to decline. In 2017/18, the U.S. share of global trade is projected at 37 percent, down from 39 percent estimated for 2016/17, but still one of the highest since 2010/11. U.S. cotton mill use for 2017/18 is estimated above 2016/17 at 3.4 million bales, supported by demand for U.S. cotton textile product exports.
Source: USDA Cotton and Wool Outlook May 2017