The U.S. Pima Industry is continuing its recovery from the over-production year of 1989 with a modest increase in production, but an overall tightening of total supply. The 1991 U.S. Pima crop will yield about 390,000 bales, up from 358,000 the previous season. However, U.S. Pima supply will drop for the second straight year from 758,000 bales in 1989, and 566,000 bales in 1990, to about 475,000 bales in the 1991/92 marketing season. Because American Pima growers were able to reduce ending stocks by more than half in the 1990 season, the average farm price bounced back from a three-year low of 97.10 cents/pound in 1989 to $1.10/pound in 1990. The average farm price for the 1991 season should hold up near the $1.05 level, primarily because the quality of this year's crop has been well above average. The recovery from the 1989 boom year has slowed a bit this season because of the stepped-up competition from other Extra-Long Staple (ELS) cotton suppliers, but the U.S. will remain the world's leading ELS exporter for the third consecutive year.