US: Cotton production forecasts lowered
Estimates for US cotton production in the current marketing year have been by 190,000 bales, according to the latest forecasts from the US Department of Agriculture (USDA).
It has based its estimates for US cotton production in 2012/13 on a decrease for Texas, which is partially offset by increases for the Southeast and Delta.
On the back of strong sales in November, the USDA now expects the number of bales exported to rise by 200,000 to 11.8m.
World production forecasts are also raised by 70,000 bales, with reductions for Australia and the US offset by increases for several African Franc Zone countries.
World consumption trends for the year are lifted slightly, with forecast world trade seen up by 1.1m bales due to higher expected import demand by China, India, and Vietnam.
It now appears that two-thirds of China's 2012 crop may be purchased for the national reserve, constraining supplies available to mills, the USDA reported on Tuesday (11 December).
Sectors: Fibres & fabrics
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