Today’s Cotton Newsline is 3 cuts. All cuts are Dr. Jody Campiche, Vice President of Economic and Policy Analysis for the National Cotton Council.
Suggested Introduction 1:
In the April report, USDA reduced world mill use for cotton for the 2019-2020 crop year by 7.6 million bales, as compared to the March estimates. At 110.6 million bales, this would be one of the largest annual declines on record with lower consumption estimates for every major country. For comparison, in the 2018 crop year, world mill use was 120.3 million bales total. We caught up with Dr. Jody Campiche, Vice President of Economics and Policy Analysis for the National Cotton Council, to further examine USDA’s estimates and look at the global fiber market as a whole.
Suggested Introduction 2:
The collapse in cotton demand is being felt across the U.S. cotton industry from textile manufacturers to cotton producers and all segments in between.
Suggested Introduction 3:
On top of low prices, the COVID-19 pandemic is devastating textile supply chains as retail outlets shutter their doors.