1. U.S. and World Cotton Economic Outlook September Prepared by: Economic Services National Cotton Council

2. Macroeconomic
Environment

3. U.S. Real GDP Growth

4. U.S. Crude Oil Spot Price

5. U.S. #2 Diesel, Gulf Coast

6. Civilian Unemployment Rate

7. U.S. Federal Budget Surplus
(CBO Projection)

8. CBO Ag Baseline Spending

9. Real GDP Growth
in Selected Countries

10. Euro (Currency per U.S. Dollar)

11. Real Exchange Rate Index (Other Important Trade Partners)
Federal Reserve

12. Ag Prices Received Index

13. U.S. Net Farm Income

14. U.S. Cotton Supply

15. December Cotton Futures

16. December Corn Futures

17. November Soybean Futures

18. 2017 U.S. Cotton Area Thousand Acres % Change Southeast 2,171 2,534
2016
Actual*
2017 Estimated*
% Change
Southeast
2,171
2,534
16.7
Mid-South
1,490
1,945
30.5
Southwest
5,987
7,573
26.5
West
230
320
39.1
ALL UPLAND
9,878
12,372
25.2
ALL ELS
195
247
26.7
ALL COTTON
10,073
12,619
25.3
*USDA-NASS

19. 2017 U.S. Cotton Area Thousand Hectares % Change Southeast 879 1,025
2016
Actual*
2017 Estimated*
% Change
Southeast
879
1,025
16.7
Mid-South
603
787
30.5
Southwest
2,423
3,065
26.5
West 93
130
39.1
ALL UPLAND
3,998
5,007
25.2
ALL ELS 79
100
26.7
ALL COTTON
4,076
5,107
25.3
*USDA-NASS

20. U.S. Cotton Production

21. U.S. Cotton Supply

22. U.S. Cotton Demand

23. Net Domestic Fiber Consumption

24. Cotton’s Share of Fiber Consumption

25. U.S. Cotton Retail Consumption

26. Components of Retail Fiber Consumption

27. U.S. Cotton Textile Imports

28. U.S. Cotton Content in Textile Imports

29. U.S. Cotton Product Trade with Mexico

30. U.S. Cotton Product Trade with CBI

31. U.S. Cotton Product Imports from China

32. U.S. Cotton Mill Use
(Calendar Year)

33. U.S. Cotton Mill Use
(Marketing Year)

34. U.S. Cotton Production & Use

35. The World Market
& U.S. Cotton Exports

36. China Cotton Supply & Use

37. World Cotton Production

38. World Fiber Mill Use
*PCI

39. Fiber Prices

40. World Cotton Mill Use

41. Foreign Cotton Production & Use

42. U.S. Cotton Exports

43. World Cotton Ending Stocks

44. Cotton Stocks/Use (World less China)

45. U.S. Supply and Demand Million Bales
Beginning Stocks
Production
Imports
Total Supply
Mill Use
Exports
Total Offtake
Ending Stocks
Stocks-to-Use Ratio 15.1% 32.9%
2016/17e
2017/18p

46. U.S. Supply and Demand Million Metric Tons
Beginning Stocks
Production
Imports
Total Supply
Mill Use
Exports
Total Offtake
Ending Stocks
Stocks-to-Use Ratio 15.1% 32.9%
2016/17e
2017/18p

47. World Supply and Demand Million Bales
Beginning Stocks
Production
Imports
Mill Use
Exports
Ending Stocks
Stocks-to-Use Ratio 78.8% 78.6%
2016/17e
2017/18p

48. World Supply and Demand Million Metric Tons
Beginning Stocks
Production
Imports
Mill Use
Exports
Ending Stocks
Stocks-to-Use Ratio 78.8% 78.6%
2016/17e
2017/18p

49. Producers
Cooperatives
Ginners
Cottonseed
Merchants
Warehouses
Manufacturers