USDA cotton consumption & wool outlook for 2005/06
11 Feb '06
2 min read
United States Department of Agriculture (USDA) reported that the cotton supply and demand estimates for 2005/06 forecast record foreign cotton consumption for the seventh consecutive season.
Over this period, foreign consumption has risen nearly 50 percent from 74.4 million bales in 1998/99 to this season's projection of 110.9 million.
While US mill use has declined 4.5 million bales during this period, foreign consumption has risen dramatically to meet the rising global demand for cotton textile and apparel products.
China's cotton mill use - in particular - has led the way, increasing more than 26 million bales during the past 7 years to this season's projection of 45 million. In addition, other foreign mill use has expanded more than 10 million bales to nearly 66 million.
As a result, China's share of foreign consumption has grown considerably since a 25-percent share was posted in 1998/99. For 2005/06, China's share is currently forecast at a remarkable 41 percent.
The US cotton crop for 2005/06 remains estimated at a record 23.7 million bales (upland at 23.1 million and extra-long staple (ELS) at 655,000 bales), compared with the 2004/05 crop of 23.3 million; these two crops are the largest on record for the United States.
Based on the latest Cotton Ginnings report, ginnings were about 97 percent complete by the beginning of February as approximately 23 million bales of cotton had been ginned. The USDA will release the final 2005/06 ginnings, as well as the final upland and ELS production data on May 12th.
marketing@alchempro.com
