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THE WORLD AND UNITED STATES COTTON OUTLOOK February 21, 2014 James Johnson, Stephen MacDonald, Leslie Meyer, Bryan Norrington, and Carol Skelly U.S. Department.

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Presentation on theme: "THE WORLD AND UNITED STATES COTTON OUTLOOK February 21, 2014 James Johnson, Stephen MacDonald, Leslie Meyer, Bryan Norrington, and Carol Skelly U.S. Department."— Presentation transcript:

1 THE WORLD AND UNITED STATES COTTON OUTLOOK February 21, 2014 James Johnson, Stephen MacDonald, Leslie Meyer, Bryan Norrington, and Carol Skelly U.S. Department of Agriculture

2 2014/15 World Outlook; Larger Production, Consumption, and Stocks

3 U.S. Production Growth Pushes World Production Higher Estimated Changes in Production, 2014/15 compared with 2013/14

4

5 Despite Larger Consumption, Stocks Continue to Grow

6 China Outlook China Cotton Supply and Demand 2013/14 est. and 2014/15 proj. Unit2013/142014/15Change (%) Beg. Stocksmil bales50.457.313.7 Production"32.030.5-4.7 Imports"11.08.0-23.3 Total supply"93.495.82.6 Consumption"36.038.05.6 Exports"0.1 0.0 Total use"36.138.15.5 Ending stocks"57.357.70.7 Reserve stocks“47.045.0-4.3 Stocks-to-use%159.0151.7-4.6

7 U.S. Outlook: Production Rebounds Planted Area, up Abandonment, down U.S. Cotton Area, Yield, and Production: 2013/14 and 2014/15 proj. Unit2013/142014/15Change(%) Planted areamil. Acres10.411.510.5 Harvested area"7.79.726.6 Abandonment rate%26.416.0-39.4 Yield/harvested acrelbs./acre826805-2.5 Productionmil. Bales13.216.323.5

8 Production Increase Larger than Consumption and Export Expansion U.S. Cotton Supply and Demand 2013/14 est. and 2014/15 projection Unit2013/142014/15Change(%) Beg. Stocksmil bales3.93.0-23.1 Production"13.216.323.5 Imports"0.0 Total supply"17.119.312.9 Mill use"3.63.72.8 Exports"10.511.04.8 Total use"14.114.74.3 Ending stocks"3.04.653.3 Stocks-to-use%21.331.547.9 Farm pricecents/lb.76.068.0-10.5

9 What does this mean for the rest of the World

10 Thank You


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