Global cotton production, trade & stocks rise in WASDE update

Global cotton production is forecast to be 2.4 million bales higher at 120.08 million bales of 480 pounds (217.7 kg) each, with increases of 1 million bales in China, about 900,000 bales in the US, and 500,000 bales in Brazil.

World trade is raised by 300,000 bales to 44 million bales, and consumption is increased by 50,000 bales to 118.88 million bales. Beginning stocks are raised by over 400,000 bales, largely reflecting updated 2024–25 trade data for several countries. Beginning stocks for 2025–26 are now projected at 74.49 million bales. As a result of these revisions, global ending stocks are raised by about 2.8 million bales to 75.9 million bales.

The November outlook for 2025–26 US cotton supply and demand shows higher production, exports and ending stocks compared with September, with no change to consumption or imports. The US production forecast is raised by almost 900,000 bales to 14.1 million bales, reflecting higher expected yields in most States, lifting the projected national average yield by almost seven per cent to 919 pounds per harvested acre.

The export forecast is increased by 200,000 bales to 12.2 million bales. The balance of the production increase flows into ending stocks, which are raised by almost twenty per cent to 4.3 million bales, resulting in a stocks-to-use ratio of 30.9 per cent. The projected season-average upland price for 2025–26 is lowered to 62 cents per pound.

ALCHEMPro News Desk (KUL)