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This report provides a comprehensive analysis of the U.S. and global cotton market, focusing on economic indicators such as GDP growth, crude oil prices, and unemployment rates. It highlights U.S. cotton supply and demand, production statistics, and retail consumption patterns. The document also examines trade dynamics, including U.S. cotton exports and imports, particularly with China and Mexico. Key projections for cotton stocks and prices, alongside insights into global production and consumption trends, are included.
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U.S. and World Cotton Economic OutlookNovember 2013Prepared by:Economic ServicesNational Cotton Council
Macroeconomic Environment
U.S. Federal Budget Surplus (CBO Projection)
Real GDP Growth in Selected Countries
Real Exchange Rate Index(Other Important Trade Partners) Federal Reserve
2013 U.S. Cotton Area Thousand Acres * USDA
2013 U.S. Cotton Area Thousand Hectares * USDA
U.S. Cotton Mill Use (Calendar Year)
U.S. Cotton Mill Use (Marketing Year)
The World Market & U.S. Cotton Exports
World Fiber Mill Use *PCI
U.S. Supply and DemandMillion Bales Beginning Stocks 3.35 3.90 Production 17.32 13.11 Imports 0.01 0.01 Total Supply 20.68 17.02 Mill Use 3.50 3.60 Exports 13.03 10.40 Total Offtake 16.53 14.00 Ending Stocks 3.90 3.00 Stocks-to-Use Ratio 23.6% 21.4% 2012/13e 2013/14p
U.S. Supply and DemandMillion Metric Tons Beginning Stocks 0.73 0.85 Production 3.77 2.86 Imports 0.00 0.00 Total Supply 4.51 3.71 Mill Use 0.76 0.78 Exports 2.84 2.27 Total Offtake 3.60 3.05 Ending Stocks 0.85 0.65 Stocks-to-Use Ratio 23.6% 21.4% 2012/13e 2013/14p
World Supply and DemandMillion Bales Beginning Stocks 72.89 88.06 Production 123.09 117.22 Imports 46.10 38.95 Mill Use 107.12 109.63 Exports 46.73 38.95 Ending Stocks 88.06 95.71 Stocks-to-Use Ratio 82.2% 87.3% 2012/13e 2013/14p
World Supply and DemandMillion Metric Tons Beginning Stocks 15.88 19.19 Production 26.82 25.54 Imports 10.04 8.49 Mill Use 23.34 23.88 Exports 10.18 8.49 Ending Stocks 19.19 20.85 Stocks-to-Use Ratio 82.2% 87.3% 2012/13e 2013/14p
Producers Cooperatives Warehouses Manufacturers Ginners Cottonseed Merchants