Cotton by the Numbers
With your Southeast Regional Ag News, I am Haylie Shipp.
The USDA did release last week their World Agricultural Supply and Demand Estimates as of the month of May. Coming out of that, Dr. Jody Campiche who is the vice president of economics and policy analysis for the National Cotton Council breaks it down for the crop…
“In the May USDA Supply and Demand Report, the USDA reduced the 2021 U.S. crop by 100,000 bales with no change to exports or consumption. With shipments still running behind, U.S. exports may not reach the USDA estimate of 14.75 million bales.”
But, she says, the cotton is sold. It will likely ship in August or September…
“For the 2021 world balance sheet, the USDA reduced global production. The USDA also reduced 2021 world consumption by 1.1 million bales as compared to the April forecast due to a 500,000 bale reduction China as well as a 500,000 bale reduction in Uzbekistan based on historical revisions.”
And the USDA is predicting a slightly smaller 2022 crop when compared to 2021…
“The USDA has estimated a 2022 U.S. crop of 16.5 million bales which is just over 1 million bales lower than the 2021 crop.”
But, she says that with the drought situation going on right now in Texas, that could be a bit optimistic. Again Dr. Jody Campiche with the National Cotton Council.
