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Agricultural News

Cotton Numbers for November Crop Production and WASDE Report

Wed, 10 Nov 2021 07:53:12 CST

Cotton Numbers for November Crop Production and WASDE Report USDA released its monthly Crop Production and World Agricultural Supply and Demand Estimates (WASDE) report. The cotton summary from the respective reports and key charts are contained below along with links to the full reports.

USDA Crop Production Report
All cotton production is forecast at 18.2 million 480-pound bales, up 1 percent from the previous forecast and up 25 percent from 2020. Based on conditions as of November 1, yields are expected to average 880 pounds per harvested acre, up 9 pounds from the previous forecast and up 33 pounds from 2020. Upland cotton production is forecast at 17.9 million 480-pound bales, up 1 percent from the previous forecast and up 27 percent from 2020. Pima cotton production is forecast at 346,000 bales, down 2 percent from the previous forecast and down 37 percent from 2020. All cotton area harvested is forecast at 9.92 million acres, unchanged from the previous forecast but up 20 percent from 2020.

For the full crop production report click the following link USDA November Crop Production

COTTON: This month’s 2021/22 U.S. cotton estimates are largely unchanged from October. The U.S. production forecast is slightly higher, at 18.2 million bales, while domestic mill use and exports are unchanged. U.S. ending stocks are 200,000 bales higher at 3.4 million-19 percent of use-and 250,000 above the previous year. The projected marketing-year average price received by upland producers is unchanged this month at 90 cents per pound, a 36 percent year-to-year increase.

The global cotton balance sheet for 2021/22 includes higher production and consumption, and slightly lower ending stocks. Beginning stocks this month are also lower, by 1 million bales, due to higher estimated consumption in earlier years for India, Pakistan, and Mexico. Their projected use in the current year is also higher this month, and total global consumption is up 700,000 bales. The world production forecast is 1.5 million bales higher as gains for Brazil, Australia, Pakistan, and the United States more than offset a 200,000- bale decline in Greece following unusually heavy October rainfall. World ending stocks are projected at 86.9 million bales, 200,000 bales lower than in October, and 2.4 million bales lower than in 2020/21.

For the full WASDE report click the following link USDA November WASDE Report



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