Today’s Cotton Newsline is 5 cuts. All cuts are Dr. Jody Campiche, Vice President of Economics and Policy Analysis for the National Cotton Council.
Suggested Introduction 1:
In its May report, the Department of Agriculture slightly increased its estimate for U.S. cotton production for the 2019 crop year. The export forecast is unchanged, but expected consumption is 200,000 bales lower and ending stocks 400,000 bales higher. Dr. Jody Campiche, Vice President of Economics and Policy Analysis for the National Cotton Council, joins us to break down the report.
Suggested Introduction 2:
For the 2019 world balance sheet, USDA reduced world consumption to 105 million bales – down 5.6 million from the April forecast.
Suggested Introduction 3:
Looking ahead to the current crop year,
Suggested Introduction 4:
Exports are projected to recover slightly in 2020 to 16 million bales.
Suggested Introduction 5:
And finally, a look at the department’s estimates for global cotton production,