Despite a lower volume of shipments by the United States in 2014/15, USDA predicts that US share of global trade is projected to rise from 26 per cent to 29 per cent.
USDA reduced the 2014 US cotton crop by 3 per cent to 15.9 million bales in its latest cotton crop forecast released this month; however, the estimate#
Due to the production change this month, US ending stocks are now forecast at 4.6 million bales, more than 2 million bales above the beginning level.
Both the stocks and the stocks-to-use ratio are estimated at 33 percent and would be the highest since 2008/09.
Based on the latest supply and demand outlook for 2014/15, the average upland cotton farm price is now forecast to range between 59 and 64 cents per pound, down from the final 2013/14 price of 77.9 cents per pound. (AR)
Fibre2fashion News Desk - India
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