Cotton Supply and Demand: NCC

Estimates from the World Agricultural Outlook Board of USDA

MY 2008-09

Million 480-Lb. Bales
Month	Beginning Stocks	Production	Imports	Mill Use	Exports	Ending Stocks	S-U-R Ratio
World
May	61.55	118.00	41.00	127.00	41.00	55.55	43.7%
United States
May	9.90	14.50	0.02	4.30	14.50	5.60	29.8%
Total Foreign
May	51.65	103.50	40.99	122.70	26.50	49.95	33.5%
China
May	17.76	35.50	15.00	55.50	0.08	15.69	28.2%

Historical Data

Million 480-Lb. Bales
Marketing Year	Beginning Stocks	Production	Imports	Mill Use	Exports	Ending Stocks	S-U-R Ratio
World
07/08	63.01	120.47	38.41	124.43	38.40	61.55	49.5%
06/07	62.38	122.08	37.28	123.22	37.26	63.01	52.8%
05/06	57.31	117.69	44.37	116.23	44.59	60.15	51.7%
04/05	44.22	120.09	33.43	108.59	35.01	57.31	52.8%
03/04	45.40	95.28	34.01	98.03	33.28	44.22	45.1%
02/03	54.75	88.39	30.11	98.36	30.31	45.40	46.2%
01/02	49.33	98.71	29.30	94.28	29.09	54.75	58.1%
00/01	51.08	89.08	26.23	92.16	26.26	49.33	53.5%
99/00	52.82	87.93	27.98	91.06	27.20	51.08	56.1%
98/99	49.41	86.10	24.48	84.76	23.52	52.82	62.3%
97/98	44.61	92.29	25.93	87.27	26.72	49.41	56.6%
96/97	40.11	90.12	28.58	87.94	26.84	44.61	50.7%
95/96	31.99	93.87	27.00	85.94	27.36	40.11	46.7%
United States
07/08	9.48	19.21	0.02	4.60	14.20	9.90	52.7%
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	6.05	25.8%
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
07/08	53.53	101.26	38.39	119.83	24.20	51.65	35.9%
06/07	56.31	100.49	37.26	118.28	24.25	53.53	37.6%
05/06	51.81	93.80	44.34	110.36	27.05	54.10	39.4%
04/05	40.77	98.84	33.41	101.90	20.58	51.81	42.3%
03/04	40.01	77.03	33.97	91.77	19.52	40.77	36.6%
02/03	47.31	71.18	30.05	91.08	18.41	40.01	36.5%
01/02	43.33	78.41	29.28	86.58	18.09	47.31	45.2%
00/01	47.16	71.89	26.21	83.30	19.52	43.33	42.1%
99/00	48.88	70.96	27.88	80.86	20.45	47.16	46.6%
98/99	45.53	72.18	24.04	74.36	19.23	48.88	52.2%
97/98	40.64	73.49	25.92	75.92	19.22	45.53	47.9%
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
07/08	20.54	35.80	12.00	53.00	0.08	17.76	33.5%
06/07	22.54	35.50	10.59	50.00	0.09	20.54	41.0%
05/06	15.06	29.50	19.28	45.00	0.04	20.31	45.1%
04/05	14.96	31.00	6.39	38.50	0.03	15.06	39.1%
03/04	15.00	22.30	8.83	32.00	0.17	14.96	46.5%
02/03	18.95	22.60	3.13	29.90	0.75	15.00	48.9%
01/02	19.77	24.40	0.45	26.25	0.34	18.95	71.3%
00/01	22.38	20.30	0.23	23.50	0.44	19.77	82.6%
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%