Agfax Buzz:
    May 10, 2013
    cotton-picker-southern-images-copyright-2012-08042012-feature

    WASDE Cotton: Abandoned Acres Reduce Projections to 14M Bales; Southwest 25% Down

    AgFax.Com - Your Online Ag News Source

    From USDA, World Agricultural Supply and Demand Estimates

    The U.S. cotton projections for 2013/14 include lower production, exports, and ending stocks compared with 2012/13. Projected production is reduced 19 percent to 14.0 million bales, based on regional average abandonment and yields. Abandonment for the Southwest region is projected at 25 percent due to continued drought conditions. Domestic mill use is projected at 3.5 million bales, 100,000 bales above 2012/13. Exports are projected at 11.5 million bales, down 13 percent from 2012/13, due to the smaller available domestic supply and lower imports by China. Ending stocks are reduced to 3.0 million bales, equal to 20 percent of total use, which is well below the previous 10-y ear average. The forecast range for the marketing year average price re ceived by producers is 68.0 to 88.0 cents per pound, compared with 72.0 cents estimated for 2012/13.

    The initial 2013/14 world cotton projections show world ending stocks of nearly 93 million bales, the third consecutive seasonal record, as China’s policy of stockpiling cotton in its national reserve is assumed to continue. World production is projected nearly 3 percent lower than 2012/13 at 117.8 million bales, as reductions, mainly for the United States, China, Turkey, Greece, and Mexico, are partially offset by increases for Brazil, India, Pakistan, and Australia. World consumption is expected to rise 2 percent due to modest growth in world GDP. World trade is expected to fall 12 percent, as sharply lower imports by China and India are partially offset by increases for Pakistan, Turkey, Mexico and others. World ending stocks outside of China are projected to fall nearly 2.0 million bales.

    China’s national reserve stocks are currently expected to reach nearly 40 million bales at the end of 2012/13. Based on the government of China’s current reserve purchase and release prices and import quota policies, USDA is projecting that China will import 12.0 million bales in 2013/14 and will add 10 million bales to ending stocks as reserve purchases exceed reserve sales. T he resulting projected China ending stocks of 58.2 million bales would account for 63 percent of world stocks.

    For 2012/13, the final U.S. crop production estimate of 17.3 million bales is virtually unchanged from last month. U.S. exports are raised 250,000 bales, reflecting recent activity and stronger expected imports by China, which are raised 1.8 million balance from last month. India’s production and consumption also show significant increases.

    Complete WASDE pdf REPORT

    Tags: , ,

    Leave a Reply

    Name and Email Address are required fields. Your email will not be published or shared with third parties.

    Agfax Cotton News

    AFB Cotton Close: USDA Boosts Prices3-31

    DTN Cotton Close: Rebounds Following Post-Report Dip3-31

    Texas Crop Weather: Peach Crop Could Be Best in Years3-31

    California Field Crops Forecast: Cotton, Corn and Rice Acreage Down3-31

    Shurley on Cotton: Acreage Intentions Meet High End of Expectations3-31

    USDA Perspective Plantings: Soybeans Gain. Otherwise, Slippage.3-31

    DTN Fertilizer Trends: Concerns About Dry Weather, Acid Shortage3-31

    DTN Cotton Open: Lower Trades Ahead of USDA Report3-31

    Mississippi: Farmers Wait for Drier Conditions – USDA3-30

    Oklahoma: Drought Conditions Continue to Worsen – USDA3-30

    Virginia: Roller Coaster of Weather Conditions – USDA3-30

    Texas: Planting Off to Slow Start, More Delays – USDA3-30

    Arkansas: Rain Continues to Delay Planting – USDA3-30

    Florida: Growers Ready to Plant – USDA3-30

    Missouri: Free Pesticide Collection Day, Portageville, May 303-30

    AFB Cotton Close: Unable to Pass Resistance3-30

    DTN Cotton Close: Traders Await Prospective Planting Numbers3-30

    DTN Fertilizer Outlook: Spot Shortages to Drive Domestic Prices3-30

    DTN Cotton Open: Cash Grower Sales Decline3-30

    Farmland Partners Buys 15,000 Row Crop Acres In Carolinas, Virginia3-27

    Rose on Cotton: Don’t Miss an Opportunity. Get Short Terms in Place.3-27

    Cleveland On Cotton: “December has 70-cents-plus written all over it.”3-27

    Weekly Cotton Market Review – USDA3-27

    DTN Cotton Close: Light Volume with Outside Support3-27

    Video: 13 Best Practices to Manage Tarnished Plant Bugs3-27

    Mississippi: Fertilizer Costs – Everything Old Is New Again3-27

    Texas: Hale and Swisher Crops Conference, Plainview, April 143-27

    Arkansas: Falling Cotton Prices Make Peanuts Tempting Alternative3-27

    Corn Maybe Has More Bullish Potential Than Beans Ahead Of USDA Projections3-27

    DTN Cotton Open: Little Change on Thin Volume3-27

    Making Money With Manure, Advantages of Composting and Additives – DTN3-26

    South Texas: Wet Weather, Farming Problems to Persist, Says Expert3-26

    ELS Cotton Competitive Payment Rate Is Zero3-26

    DTN Cotton Close: U.S. Premium Widens3-26

    Video: Summary of U.S. Drought Monitor in One Minute3-26

    Drought Monitor: Warm, Dry Weather Further Depletes Snowpacks3-26

    Oklahoma: Ag Pesticide Disposal, Purcell, April 223-26

    Residential Propane, Heating Oil: Prices Decrease3-26