Cotton Supply and Demand: NCC

Estimates from the World Agricultural Outlook Board of USDA

MY 2009-10

Million 480-Lb. Bales
Month	Beginning Stocks	Production	Imports	Mill Use	Exports	Ending Stocks	S-U-R Ratio
World
May	62.31	106.46	32.80	113.54	32.80	57.77	50.9%
June	61.16	106.26	32.65	113.42	32.65	56.54	49.9%
July	61.95	105.95	31.65	112.62	31.66	57.81	51.3%
August	61.85	105.87	31.95	112.76	31.95	57.46	51.0%
September	61.47	105.06	32.02	112.74	31.99	56.26	49.9%
October	62.50	103.78	31.97	112.64	31.95	56.13	49.8%
November	62.01	102.74	33.17	113.52	33.15	53.72	47.3%
December	61.12	102.72	33.88	114.51	33.88	51.81	45.2%
January	60.93	102.71	33.65	114.36	33.66	51.72	45.2%
February	62.42	102.74	33.76	115.53	33.77	52.08	45.1%
March	62.42	102.24	34.39	115.70	34.40	51.41	44.4%
United States
May	6.80	13.25	0.01	3.50	11.00	5.60	38.6%
June	6.60	13.25	0.01	3.50	10.80	5.60	39.2%
July	6.00	13.25	0.01	3.50	10.20	5.60	40.9%
August	6.10	13.21	0.01	3.50	10.20	5.60	40.9%
September	6.20	13.44	0.01	3.50	10.50	5.60	40.0%
October	6.34	13.00	0.01	3.40	10.50	5.40	38.8%
November	6.34	12.50	0.01	3.40	10.50	4.90	35.3%
December	6.34	12.59	0.01	3.40	11.00	4.50	31.3%
January	6.34	12.40	0.01	3.40	11.00	4.30	29.9%
February	6.34	12.40	0.01	3.40	12.00	3.30	21.4%
March	6.34	12.40	0.01	3.50	12.00	3.20	20.6%
Total Foreign
May	55.51	93.21	32.79	110.04	21.80	52.17	39.6%
June	54.56	93.01	32.65	109.92	21.85	50.94	38.7%
July	55.95	92.70	31.65	109.12	21.46	52.21	40.0%
August	55.75	92.67	31.95	109.26	21.75	51.86	39.6%
September	55.27	91.62	32.01	109.24	21.49	50.66	38.8%
October	56.17	90.78	31.97	109.24	21.45	50.73	38.8%
November	55.67	90.25	33.16	110.12	22.65	48.82	36.8%
December	54.79	90.13	33.88	111.11	22.88	47.31	35.3%
January	54.59	90.31	33.64	110.96	22.66	47.42	35.5%
February	56.08	90.34	33.76	112.13	21.77	48.78	36.4%
March	56.08	89.84	34.38	112.20	22.40	48.21	35.8%
China
May	19.22	33.00	9.00	47.50	0.08	16.15	33.9%
June	19.22	33.00	8.50	47.00	0.08	16.15	34.3%
July	19.87	33.00	8.00	46.50	0.08	16.80	36.1%
August	19.97	33.50	8.00	46.50	0.08	17.40	37.4%
September	19.97	33.50	8.00	46.25	0.08	17.64	38.1%
October	20.87	32.50	8.00	46.25	0.08	17.54	37.9%
November	20.87	31.50	8.50	46.25	0.08	17.04	36.8%
December	20.87	31.50	9.00	46.75	0.08	17.04	36.4%
January	20.87	32.00	9.00	46.75	0.08	17.54	37.5%
February	22.37	32.00	9.00	47.50	0.08	18.29	38.4%
March	22.37	31.50	9.50	47.50	0.08	18.29	38.4%

Historical Data

Million 480-Lb. Bales
Marketing Year	Beginning Stocks	Production	Imports	Mill Use	Exports	Ending Stocks	S-U-R Ratio
World
08/09	62.66	107.45	30.01	110.11	30.18	62.42	56.7%
07/08	63.13	119.91	38.99	122.97	38.47	62.66	51.0%
06/07	62.25	121.95	37.38	123.00	37.04	63.28	51.4%
05/06	60.46	116.69	44.49	116.43	44.58	62.25	53.5%
04/05	48.06	121.50	33.43	108.69	35.01	60.46	55.6%
03/04	47.63	96.76	34.01	98.02	33.20	48.06	49.0%
02/03	54.53	90.98	30.19	98.39	30.46	47.63	48.4%
01/02	49.41	98.70	29.30	94.44	29.15	54.53	57.7%
00/01	51.10	89.10	26.23	92.16	26.20	49.41	53.6%
99/00	52.81	87.96	27.98	91.08	27.17	51.10	56.1%
98/99	49.41	86.10	24.48	84.76	23.52	52.81	62.3%
97/98	44.61	92.28	25.93	87.27	26.72	49.41	56.6%
96/97	40.10	90.12	28.58	87.94	26.84	44.61	50.7%
95/96	31.99	93.87	27.00	85.94	27.36	40.10	46.7%
United States
08/09	10.04	12.82	0.00	3.59	13.28	6.34	37.6%
07/08	9.48	19.21	0.01	4.59	13.65	10.04	55.0%
06/07	6.07	21.59	0.02	4.94	13.01	9.48	52.8%
05/06	5.50	23.89	0.03	5.87	17.55	6.07	25.9%
04/05	3.45	23.25	0.03	6.69	14.44	5.50	26.0%
03/04	5.39	18.26	0.05	6.27	13.76	3.45	17.2%
02/03	7.45	17.21	0.07	7.27	11.90	5.39	28.1%
01/02	6.00	20.30	0.02	7.70	11.00	7.45	39.8%
00/01	3.92	17.19	0.02	8.86	6.74	6.00	38.5%
99/00	3.94	16.97	0.10	10.19	6.75	3.92	23.1%
98/99	3.89	13.92	0.44	10.40	4.30	3.94	26.8%
97/98	3.97	18.79	0.01	11.35	7.50	3.89	20.6%
96/97	2.61	18.94	0.40	11.13	6.87	3.97	22.1%
95/96	2.65	17.90	0.41	10.65	7.68	2.61	14.2%
Total Foreign
08/09	52.61	94.64	30.01	106.52	16.90	56.08	45.4%
07/08	53.66	100.70	38.98	118.38	24.82	52.61	36.7%
06/07	56.18	100.37	37.36	118.07	24.03	53.80	37.9%
05/06	54.96	92.80	44.46	110.56	27.04	56.18	40.8%
04/05	44.61	98.25	33.40	102.00	20.58	54.96	44.8%
03/04	42.24	78.50	33.97	91.76	19.44	44.61	40.1%
02/03	47.08	73.77	30.12	91.12	18.56	42.24	38.5%
01/02	43.41	78.40	29.28	86.75	18.15	47.08	44.9%
00/01	47.19	71.91	26.21	83.30	19.46	43.41	42.2%
99/00	48.88	71.00	27.88	80.89	20.42	47.19	46.6%
98/99	45.52	72.18	24.04	74.36	19.23	48.88	52.2%
97/98	40.64	73.49	25.92	75.92	19.22	45.52	47.8%
96/97	37.50	71.17	28.17	76.81	19.97	40.64	42.0%
95/96	29.34	75.97	26.59	75.29	19.69	37.50	39.5%
China
08/09	20.50	36.70	7.00	44.00	0.08	22.37	50.7%
07/08	20.54	37.00	11.53	51.00	0.06	20.50	40.1%
06/07	22.54	35.50	10.59	50.00	0.09	20.54	41.0%
05/06	18.39	28.40	19.28	45.00	0.04	22.54	50.0%
04/05	18.98	30.30	6.39	38.50	0.03	18.39	47.7%
03/04	17.47	23.80	8.83	32.00	0.17	18.98	59.0%
02/03	18.85	25.20	3.13	29.90	0.75	17.47	57.0%
01/02	19.74	24.40	0.45	26.25	0.34	18.85	70.9%
00/01	22.38	20.30	0.23	23.50	0.44	19.74	82.5%
99/00	26.93	17.60	0.12	21.30	1.69	22.38	97.3%
98/99	24.55	20.70	0.33	18.70	0.68	26.93	139.0%
97/98	20.20	21.10	1.73	19.15	0.03	24.55	128.0%
96/97	16.74	19.30	3.49	19.95	0.01	20.20	101.2%
95/96	10.78	21.90	2.91	19.40	0.02	16.74	86.2%