The USDA’s 2024/25 U.S. cotton outlook sees minimal changes this month. Domestic mill use is reduced by 100,000 bales, leading to a matching increase in ending stocks and bringing the stocks-to-use ratio to 39%. Production, beginning stocks, and exports remain unchanged, while the season-average upland farm price is lowered to 63.5 cents per pound.
U.S. domestic cotton use is reduced by 100,000 bales, raising ending stocks and bringing the stocks-to-use ratio to 39%.
Global cotton production rises, led by a one-million-bale increase in China, while Brazil’s gains are offset by losses in Argentina and Kazakhstan.
The 2024/25 season-average U.S. cotton price is lowered to 63.5 cents per pound.
Global cotton production is raised, mainly due to a one-million-bale increase in China. Slight gains in Brazil are offset by declines in Argentina and Kazakhstan. Bangladesh, Pakistan, and Vietnam see increased cotton use, while India and the U.S. report lower consumption. Bangladesh, Pakistan, and Vietnam increase imports, while China reduces its cotton purchases.
Global cotton ending stocks for 2024/25 are raised by 500,000 bales, as higher production is partially offset by lower beginning stocks, following revisions in China and Uzbekistan.
With rising global production, shifting consumption trends, and lower U.S. domestic use, market participants should monitor price movements and demand shifts in key textile markets.
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