Based on this production estimate and the current estimates for beginning stocks (5.5 million bales) and imports (40,000 bales), the 2005/06 US cotton supply is forecast at 29.3 million bales, 9 percent above last season and the largest since 1965/66.
Similarly, total demand this season is expected to surpass the 2004/05 level and reach a record 22.3 million bales, nearly 6 percent above last season. Consequently, 2005/06 ending stocks are forecast to rise 26 percent to 7 million bales.
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