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

    Florida: Panhandle Storms Slow Planting – USDA4-20

    Crop Progress: Spring Wheat Planting Jumps, Other Crops Still Slow – DTN4-20

    DTN Cotton Close: Moderate to Heavy Rains in Southeast4-20

    Louisiana: Another Slow, Rainy Week – USDA4-20

    California Cotton: Damaged Roots Prompt Some Mite Treatments – Podcast4-20

    AFB Cotton Close: Slowing Global Market4-20

    Upland Cotton Genome Unlocked, 1st Step Towards Better Varieties4-20

    Georgia: Another Rainy Spring, but Not as Wet as Last Year4-20

    DTN Cotton Open: China Stimulates Slowing Economy4-20

    Flint on Crops: 4 Priorities for a High Level of Crop Success4-20

    Florida Cotton: Rain Delays; Limited Supply of New Seed ReleaseS4-17

    Cleveland on Cotton: Trading Range Stretching Topside; MidSouth Water Logged4-17

    Rose on Cotton: Spring Rally Coming. Are You Ready?4-17

    Old World Bollworm Arrival Eminent: USDA Invests $1.2M in Detection, Control – DTN4-17

    AFB Cotton Close: Dec. Falls Below Support4-17

    DTN Cotton Close: China Discusses Disposal of Reserve Stocks4-17

    How Will China’s Investments in Agriculture Affect U.S. Producers?4-17

    Conservation Compliance: 5 Steps Needed Before June 1 Deadline4-17

    Georgia Cotton: No Counter 20G Approval for 20154-17

    Weekly Cotton Market Review – USDA4-17

    DTN Cotton Open: Global Stocks Fall4-17

    Mississippi Corn, Soybeans: Slugs Appearing in Emerging Fields4-16

    DTN Cotton Close: Short Covering Allows Late Rally4-16

    AFB Cotton Close: Sluggish Demand, Improved Weather4-16

    USDA Reminds Farmers to Certify Conservation Compliance by June 1 Deadline4-16

    South Carolina Cotton: Counter 20G Not Approved for 20154-16

    U.S. Drought Outlook: Improvements Expected Across the Plains4-16

    Drought Monitor: Mississippi River, Gulf Coast Get Drenched4-16

    U.S. Drought Monitor Quick Look Video – AgFax4-16

    Texas Fertilizer Fire, 2013: What Did We Learn? – DTN4-16

    DTN Cotton Open: Contracts Break from Higher Trade4-16

    AFB Cotton Close: Pressured by Improving Weather4-15

    Propane Stocks Continue Climb4-15

    Gasoline: Strong Regional Price Movements4-15

    Diesel Prices Move Lower4-15

    DTN Cotton Close: Commercial Selling in Quiet Trade4-15

    5 Business Practices to Take Home From Ethiopian Farmers – DTN4-15

    Texas: 6 Counties Declared Natural Disaster Areas4-15

    Kansas: 2 Counties Designated Natural Disaster Areas4-15