Cotton Balance Sheet
This month’s 2022/23 U.S. cotton forecasts include higher production and ending stocks but lower mill use and exports.
Cotton Balance Sheet
This month’s 2022/23 U.S. cotton forecasts include higher production and ending stocks but lower mill use and exports. Production is 211,000 bales higher—at 14.2 million bales—mainly due to higher yields in the Delta and Southeast.
Mill use is lowered 100,000 bales reflecting reduced spinning levels to date and weaker expectations for future demand. A reduction in expected world demand and trade results in a 250,000-bale decrease for U.S. cotton exports, down to 12.25 million.
Ending stocks are now expected to be 500,000 bales higher than they were a month earlier, but the upland cotton season-average farm price is unchanged at 85 cents per pound.
