In its September crop report, the USDA estimated a 2012-2013 US cotton crop of approximately 17 million bales, down 540,000 bales from its August report. The USDA also lowered US export projection by 300,000 bales. This is due in large part to lower U.S. cotton production and lower world imports. Michelle Huffman, Agricultural Economist for the National Cotton Council explains the changes.
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