June 14Th USDA10/11 World Cotton Year End Inventory Month Ratio Lower Than Last Month Morning News

USDA 10/11 world cotton early inventory and end inventory monthly ratio is lower than last month report

The world's agricultural supply and demand forecast released in June 10, 2010 showed that the inventory and final inventory of US cotton at the beginning of 2010/11 were slightly lower than that of last month's report.

As exports were expected to be raised in 2009/10, inventory fell by 200000 bales at the beginning of this year.

Output, domestic consumption and export expectations have not been adjusted.

Therefore, the final inventory is revised down to 2 million 800 thousand packs, equivalent to 17% of the total consumption, which is the minimum inventory since 1995/96.

The forecast shows that the average annual price of the growers in the market is 60-74 cents / pound.

World inventories in 2010/11 showed that inventory and final inventory at the beginning of last year were lower than those reported last month.

Inventories dropped by about 550000 packages in the early part of the year, as China's stock forecasts were raised, while Turkey, India, the United States, Pakistan, Brazil and other countries lowered their stock prices by a larger margin.

Output in Australia, Sultan and Mexico has increased, while consumption in Pakistan and Turkey has increased.

Therefore, the global inventory is 49 million 600 thousand packs and the total usage is 41 million 500 thousand packs. If so, it will be the minimum inventory to consumption ratio since 1994/95.

Compared with last month's report, the revised part of the world and US estimates in 2009/10 included a 450000 reduction in inventory at the beginning of the world, mainly in Turkey.

World consumption is up by about 500000 packs, as the data in Pakistan and Turkey have been adjusted. Analysts expect that the final inventory in Pakistan and Turkey will be lower than expected earlier.

Imports in China and Turkey have increased, while exports in the US and India have increased.

The average price received by American growers is expected to drop by 1 cents at the upper end of the forecast interval of 61.50-63.50 cents / pound.