US Department Of Agriculture Raises 08-09 US Cotton Exports And World Stock

The US Department of Agriculture reported on Thursday that it expected to increase 2008-09's US exports of cotton and cut domestic end inventory, but the world's cotton consumption is down and world stocks are expected to rise. Analysts say that the adjustment of the report has mixed effects on the ICE cotton market.

The United States Department of agriculture has also revised the domestic cotton output and consumption.

The US Department of agriculture has raised the 2008-09 US cotton export forecast to 12 million 500 thousand bales, up from the 12 million package reported in March.

The adjusted expectations are higher than those expected by the market participants before the report is 12 million 190 thousand packages.

The recent strong export of US cotton has prompted the Ministry of agriculture to raise its export expectations.

According to weekly export sales data from the US Department of agriculture, the total number of US cotton commissioned or sales total in the week ended April 2nd is more than 11 million 550 thousand 2008-09 annual.

The US Department of agriculture has cut 2008-09 cotton production to 12 million 830 thousand bales, lower than the 13 million 40 thousand package forecast last month.

Analysts had expected to cut to 12 million 940 thousand bales.

According to the US Department of agriculture report, according to the US final ginning report released in March 25th, the output was lower than previously expected.

The US Department of agriculture slightly reduced domestic cotton consumption in 2008-09 to 3 million 650 thousand bales, lower than the 3 million 750 thousand package forecast last month, which is also lower than the 3 million 710 thousand package forecast by analysts.

The US Department of Agriculture said the reduction was due to a reduction in the use of textile mills in February.

In February, the annual rate of adjustment in the US textile mill was 3 million 90 thousand packs, down from 4 million 527 thousand in the same period last year, which is also lower than the 3 million 670 thousand package reported in January.

As a result, the US Department of agriculture lowered the final inventory of 2008-09 cotton to 6 million 700 thousand bales, lower than the 7 million 300 thousand package reported in March.

The US Department of agriculture lowered world cotton consumption to 109 million 800 thousand packs, down from the 111 million 110 thousand package reported in March.

The report said that the amount of cotton used in China decreased, and the world textile mill consumption declined for four consecutive months.

The US Department of agriculture lowered China's cotton consumption to 45 million 500 thousand bales in 2008-09, lower than the 46 million 500 thousand package reported in March.

The US Department of agriculture has made adjustments based on a significant slowdown in net exports from January.

The US Department of agriculture slightly adjusted world cotton production to 108 million 340 thousand packs in 2008-09, lower than the 108 million 650 thousand package reported last month, mainly due to the reduction in cotton production in the United States and Iran.

The US Department of agriculture raised the world's final inventory of 2008-09 to 63 million 430 thousand bales, higher than the 62 million 550 thousand package reported last month.

Editor in chief: Wang Xiaonan