The 2016/17 pima cotton crop year is coming to an end with less than 2 months of reporting to go and will end on a positive note with export shipments approaching those from three years ago.
As of June 1, export sales of American Pima were projected to be 612,700 running bales, the equivalent of approximately 635,000 statistical bales. India continues to dominate the export market with 248,400 bales purchased, followed by China with 147,800 bales and Pakistan with 54,000 bales.
The optimistic pima planting estimates that were initially reported are expected to trend lower pending the USDA acreage report at the end of June. Additionally, the early season weather is anticipated to have some impact on the crop as the cooler and wetter conditions earlier in the season have slowed progress. Other weather factors, including hail, damaged some of the early plantings. Additionally, as a result of the cool weather, some plantings were switched to Acala’s or Uplands when replanted.
Overall, the crop is still projected to be larger than last year but not as great as early estimates may have surmised. Demand continues to remain steady and with a smaller crop than expected, along with the anticipated minimal carry-over stocks, total supply will remain roughly comparable to last year.
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