This week’s Cotton Newsline is 4 cuts. All cuts are Gary Adams, vice president of economics and policy analysis for the National Cotton Council.
Suggested Introduction 1:
In its July report, USDA projects 2010-2011 U.S. cotton production to be 18.3 million bales, up 1.6 million bales from last month’s report. Gary Adams, vice president of economics and policy analysis for the National Cotton Council, says the higher production estimate is a result of the increased planted area combined with a lower abandonment rate and a higher average yield per harvested acre.
Suggested Introduction 2:
Adams says US 2009-2010 cotton production along with mill use and exports were both left unchanged from the June report.
Suggested Introduction 3:
Adams points out that USDA projects 2010-2011 world cotton production to be 116.02 bales.
Suggested Introduction 4:
Adams says the balance sheet still appears tight looking out over the next couple of months.