“Meanwhile, US cotton mill use remains projected at 3.7 million bales, up from last season's 3.6-million-bale estimate,” it noted.
The December forecast done by USDA of the 2015 US cotton production was reduced nearly 2 per cent this month to 13.0 million bales, 3.3 million bales#
USDA further observed that as a result of lower production and export estimates in December, US cotton ending stocks are forecast at 3.0 million bales, 700,000 bales below the beginning level.
Both the stocks and the stocks-to-use ratio is estimated at 22 per cent would be the lowest in two seasons.
Based on the latest supply and demand outlook for 2015/16, while, the midpoint for the upland cotton farm price remains at 59 cents per pound in December.
The forecast price is projected to range between 56 and 62 cents per pound, compared with the final 2014/15 price of 61.3 cents per pound. (AR)
ALCHEMPro News Desk – India
marketing@alchempro.com
