COTTON SUPPLY AND DEMAND USDA, WASDE September 2017 vs ...
COTTON SUPPLY AND DEMAND
9/12/2017
(Million 480-lb. Bales)
USDA, WASDE September 2017 vs. August 2017 World U.S. China 10-Aug
12-Sep
Change
10-Aug
12-Sep
Change
10-Aug
12-Sep
R.O.W. Change
10-Aug
12-Sep
Change
16/17 Estimated Beginning Stocks Production Imports Total Supply
97.22 106.49 37.13 240.83
96.72 106.74 37.21 240.67
-0.50 0.25 0.09 -0.17
3.80 17.17 0.01 20.98
3.80 17.17 0.01 20.98
0.00 0.00 0.00 0.00
58.20 22.75 5.00 85.95
58.20 22.75 5.03 85.98
0.00 0.00 0.03 0.03
35.22 66.57 32.12 133.91
34.72 66.82 32.17 133.71
-0.50 0.25 0.05 -0.20
Mill Exports Total Use Loss
113.63 37.39 151.02 -0.17
113.68 37.54 151.22 -0.12
0.05 0.15 0.20 0.05
3.25 14.92 18.17 0.01
3.25 14.92 18.17 0.06
0.00 0.00 0.00 0.05
37.50 0.05 37.55 0.00
37.50 0.06 37.56 0.00
0.00 0.01 0.01 0.00
72.88 22.42 95.31 0.18
72.93 22.56 95.49 0.18
0.05 0.14 0.19 0.00
89.99
89.57
-0.42
2.80
2.75
-0.05
48.40
48.42
0.02
38.79
38.40
-0.39
79%
79%
0%
15%
15%
0%
129%
129%
0%
41%
40%
0%
17/18 Projected Beginning Stocks Production Imports Total Supply
89.99 117.31 37.19 244.48
89.57 120.75 37.82 248.14
-0.42 3.44 0.63 3.65
2.80 20.55 0.01 23.36
2.75 21.76 0.01 24.52
-0.05 1.21 0.00 1.16
48.40 24.50 5.00 77.90
48.42 24.50 5.10 78.02
0.02 0.00 0.10 0.12
38.79 72.26 32.18 143.23
38.40 74.49 32.71 145.60
-0.39 2.23 0.53 2.37
Mill Exports Total Use Loss
117.40 37.17 154.58 -0.19
117.75 37.78 155.53 0.07
0.34 0.61 0.95 0.26
3.35 14.20 17.55 0.01
3.35 14.90 18.25 0.27
0.00 0.70 0.70 0.26
38.50 0.05 38.55 0.00
38.50 0.05 38.55 0.00
0.00 0.00 0.00 0.00
75.55 22.92 98.48 0.20
75.90 22.83 98.73 0.20
0.34 -0.09 0.25 0.00
90.09
92.54
2.44
5.80
6.00
0.20
39.35
39.47
0.12
44.95
47.07
2.12
77%
79%
2%
33%
33%
0%
102%
102%
0%
46%
48%
2%
Ending Stocks Stocks/Offtake Ratio
Ending Stocks Stocks/Offtake Ratio
Choice Cotton Company, Inc.
Source: World Agricultural Supply and Demand Estimates (WASDE) http://www.usda.gov/oce/commodity/wasde/latest.pdf
COTTON SUPPLY AND DEMAND
9/12/2017
(Million 480-lb. Bales)
India 10-Aug
12-Sep
Brazil Change
10-Aug
12-Sep
Australia Change
10-Aug
12-Sep
Turkey Change
10-Aug
12-Sep
Change
16/17 Estimated Beginning Stocks Production Imports Total Supply
10.94 27.00 2.70 40.64
10.44 27.00 2.70 40.14
-0.50 0.00 0.00 -0.50
6.26 6.80 0.19 13.25
6.26 7.00 0.19 13.45
0.00 0.20 0.00 0.20
1.93 4.20 0.00 6.13
1.93 4.20 0.00 6.13
0.00 0.00 0.00 0.00
1.58 3.20 3.60 8.38
1.58 3.20 3.60 8.38
0.00 0.00 0.00 0.00
Mill Exports Total Use Loss
23.50 4.55 28.05 0.00
23.50 4.60 28.10 0.00
0.00 0.05 0.05 0.00
3.20 2.79 5.99 -0.15
3.20 2.79 5.99 -0.15
0.00 0.00 0.00 0.00
0.04 3.60 3.64 -0.15
0.04 3.71 3.75 -0.15
0.00 0.11 0.11 0.00
6.40 0.34 6.74 0.00
6.40 0.34 6.74 0.00
0.00 0.00 0.00 0.00
Ending Stocks Stocks/Offtake Ratio
12.59
12.04
-0.55
7.41
7.61
0.20
2.65
2.54
-0.11
1.65
1.65
0.00
45%
43%
-2%
124%
127%
3%
73%
68%
-5%
24%
24%
0%
17/18 Projected Beginning Stocks Production Imports Total Supply
12.59 29.00 1.30 42.89
12.04 30.00 1.30 43.34
-0.55 1.00 0.00 0.45
7.41 7.00 0.10 14.51
7.61 7.50 0.10 15.21
0.20 0.50 0.00 0.70
2.65 4.80 0.00 7.45
2.54 5.00 0.00 7.54
-0.11 0.20 0.00 0.09
1.65 3.60 3.45 8.70
1.65 3.80 3.40 8.85
0.00 0.20 -0.05 0.15
Mill Exports Total Use Loss
24.50 4.30 28.80 0.00
24.50 4.20 28.70 0.00
0.00 -0.10 -0.10 0.00
3.30 3.20 6.50 -0.15
3.40 3.40 6.80 -0.15
0.10 0.20 0.30 0.00
0.04 3.90 3.94 -0.15
0.04 3.80 3.84 -0.15
0.00 -0.10 -0.10 0.00
6.60 0.33 6.93 0.00
6.70 0.33 7.03 0.00
0.10 0.00 0.10 0.00
Ending Stocks Stocks/Offtake Ratio
14.09
14.64
0.55
8.16
8.56
0.40
3.66
3.85
0.19
1.77
1.82
0.05
49%
51%
2%
126%
126%
0%
93%
100%
7%
26%
26%
0%
Choice Cotton Company, Inc.
Source: World Agricultural Supply and Demand Estimates (WASDE) http://www.usda.gov/oce/commodity/wasde/latest.pdf
COTTON SUPPLY AND DEMAND
9/12/2017
(Million 480-lb. Bales)
African Franc Zone 10-Aug
12-Sep
Change
Central Asia (FSU) 10-Aug
12-Sep
Change
16/17 Estimated Beginning Stocks Production Imports Total Supply
1.43 5.03 0.00 6.46
1.43 5.03 0.00 6.46
0.00 0.00 0.00 0.00
2.09 5.90 0.00 7.99
2.09 5.95 0.00 8.04
0.00 0.05 0.00 0.05
Mill Exports Total Use Loss
0.12 4.55 4.67 0.01
0.12 4.55 4.67 0.01
0.00 0.00 0.00 0.00
2.54 2.98 5.52 0.00
2.54 2.98 5.52 0.00
0.00 0.00 0.00 0.00
Ending Stocks Stocks/Offtake Ratio
1.78
1.78
0.00
2.47
2.52
0.05
38%
38%
0%
45%
46%
1%
17/18 Projected Beginning Stocks Production Imports Total Supply
1.78 5.24 0.00 7.02
1.78 5.32 0.00 7.10
0.00 0.08 0.00 0.08
2.47 6.20 0.00 8.67
2.52 6.20 0.00 8.72
0.05 0.00 0.00 0.05
Mill Exports Total Use Loss
0.12 4.56 4.67 0.00
0.12 4.61 4.72 0.00
0.00 0.05 0.05 0.00
2.65 3.01 5.65 0.00
2.66 2.86 5.51 0.00
0.01 -0.15 -0.14 0.00
Ending Stocks Stocks/Offtake Ratio
2.35
2.38
0.02
3.01
3.20
0.19
50%
50%
0%
53%
58%
5%
Choice Cotton Company, Inc.
Source: World Agricultural Supply and Demand Estimates (WASDE) http://www.usda.gov/oce/commodity/wasde/latest.pdf
9/12/2017
(Million 480-lb. Bales)
USDA, WASDE September 2017 vs. August 2017 World U.S. China 10-Aug
12-Sep
Change
10-Aug
12-Sep
Change
10-Aug
12-Sep
R.O.W. Change
10-Aug
12-Sep
Change
16/17 Estimated Beginning Stocks Production Imports Total Supply
97.22 106.49 37.13 240.83
96.72 106.74 37.21 240.67
-0.50 0.25 0.09 -0.17
3.80 17.17 0.01 20.98
3.80 17.17 0.01 20.98
0.00 0.00 0.00 0.00
58.20 22.75 5.00 85.95
58.20 22.75 5.03 85.98
0.00 0.00 0.03 0.03
35.22 66.57 32.12 133.91
34.72 66.82 32.17 133.71
-0.50 0.25 0.05 -0.20
Mill Exports Total Use Loss
113.63 37.39 151.02 -0.17
113.68 37.54 151.22 -0.12
0.05 0.15 0.20 0.05
3.25 14.92 18.17 0.01
3.25 14.92 18.17 0.06
0.00 0.00 0.00 0.05
37.50 0.05 37.55 0.00
37.50 0.06 37.56 0.00
0.00 0.01 0.01 0.00
72.88 22.42 95.31 0.18
72.93 22.56 95.49 0.18
0.05 0.14 0.19 0.00
89.99
89.57
-0.42
2.80
2.75
-0.05
48.40
48.42
0.02
38.79
38.40
-0.39
79%
79%
0%
15%
15%
0%
129%
129%
0%
41%
40%
0%
17/18 Projected Beginning Stocks Production Imports Total Supply
89.99 117.31 37.19 244.48
89.57 120.75 37.82 248.14
-0.42 3.44 0.63 3.65
2.80 20.55 0.01 23.36
2.75 21.76 0.01 24.52
-0.05 1.21 0.00 1.16
48.40 24.50 5.00 77.90
48.42 24.50 5.10 78.02
0.02 0.00 0.10 0.12
38.79 72.26 32.18 143.23
38.40 74.49 32.71 145.60
-0.39 2.23 0.53 2.37
Mill Exports Total Use Loss
117.40 37.17 154.58 -0.19
117.75 37.78 155.53 0.07
0.34 0.61 0.95 0.26
3.35 14.20 17.55 0.01
3.35 14.90 18.25 0.27
0.00 0.70 0.70 0.26
38.50 0.05 38.55 0.00
38.50 0.05 38.55 0.00
0.00 0.00 0.00 0.00
75.55 22.92 98.48 0.20
75.90 22.83 98.73 0.20
0.34 -0.09 0.25 0.00
90.09
92.54
2.44
5.80
6.00
0.20
39.35
39.47
0.12
44.95
47.07
2.12
77%
79%
2%
33%
33%
0%
102%
102%
0%
46%
48%
2%
Ending Stocks Stocks/Offtake Ratio
Ending Stocks Stocks/Offtake Ratio
Choice Cotton Company, Inc.
Source: World Agricultural Supply and Demand Estimates (WASDE) http://www.usda.gov/oce/commodity/wasde/latest.pdf
COTTON SUPPLY AND DEMAND
9/12/2017
(Million 480-lb. Bales)
India 10-Aug
12-Sep
Brazil Change
10-Aug
12-Sep
Australia Change
10-Aug
12-Sep
Turkey Change
10-Aug
12-Sep
Change
16/17 Estimated Beginning Stocks Production Imports Total Supply
10.94 27.00 2.70 40.64
10.44 27.00 2.70 40.14
-0.50 0.00 0.00 -0.50
6.26 6.80 0.19 13.25
6.26 7.00 0.19 13.45
0.00 0.20 0.00 0.20
1.93 4.20 0.00 6.13
1.93 4.20 0.00 6.13
0.00 0.00 0.00 0.00
1.58 3.20 3.60 8.38
1.58 3.20 3.60 8.38
0.00 0.00 0.00 0.00
Mill Exports Total Use Loss
23.50 4.55 28.05 0.00
23.50 4.60 28.10 0.00
0.00 0.05 0.05 0.00
3.20 2.79 5.99 -0.15
3.20 2.79 5.99 -0.15
0.00 0.00 0.00 0.00
0.04 3.60 3.64 -0.15
0.04 3.71 3.75 -0.15
0.00 0.11 0.11 0.00
6.40 0.34 6.74 0.00
6.40 0.34 6.74 0.00
0.00 0.00 0.00 0.00
Ending Stocks Stocks/Offtake Ratio
12.59
12.04
-0.55
7.41
7.61
0.20
2.65
2.54
-0.11
1.65
1.65
0.00
45%
43%
-2%
124%
127%
3%
73%
68%
-5%
24%
24%
0%
17/18 Projected Beginning Stocks Production Imports Total Supply
12.59 29.00 1.30 42.89
12.04 30.00 1.30 43.34
-0.55 1.00 0.00 0.45
7.41 7.00 0.10 14.51
7.61 7.50 0.10 15.21
0.20 0.50 0.00 0.70
2.65 4.80 0.00 7.45
2.54 5.00 0.00 7.54
-0.11 0.20 0.00 0.09
1.65 3.60 3.45 8.70
1.65 3.80 3.40 8.85
0.00 0.20 -0.05 0.15
Mill Exports Total Use Loss
24.50 4.30 28.80 0.00
24.50 4.20 28.70 0.00
0.00 -0.10 -0.10 0.00
3.30 3.20 6.50 -0.15
3.40 3.40 6.80 -0.15
0.10 0.20 0.30 0.00
0.04 3.90 3.94 -0.15
0.04 3.80 3.84 -0.15
0.00 -0.10 -0.10 0.00
6.60 0.33 6.93 0.00
6.70 0.33 7.03 0.00
0.10 0.00 0.10 0.00
Ending Stocks Stocks/Offtake Ratio
14.09
14.64
0.55
8.16
8.56
0.40
3.66
3.85
0.19
1.77
1.82
0.05
49%
51%
2%
126%
126%
0%
93%
100%
7%
26%
26%
0%
Choice Cotton Company, Inc.
Source: World Agricultural Supply and Demand Estimates (WASDE) http://www.usda.gov/oce/commodity/wasde/latest.pdf
COTTON SUPPLY AND DEMAND
9/12/2017
(Million 480-lb. Bales)
African Franc Zone 10-Aug
12-Sep
Change
Central Asia (FSU) 10-Aug
12-Sep
Change
16/17 Estimated Beginning Stocks Production Imports Total Supply
1.43 5.03 0.00 6.46
1.43 5.03 0.00 6.46
0.00 0.00 0.00 0.00
2.09 5.90 0.00 7.99
2.09 5.95 0.00 8.04
0.00 0.05 0.00 0.05
Mill Exports Total Use Loss
0.12 4.55 4.67 0.01
0.12 4.55 4.67 0.01
0.00 0.00 0.00 0.00
2.54 2.98 5.52 0.00
2.54 2.98 5.52 0.00
0.00 0.00 0.00 0.00
Ending Stocks Stocks/Offtake Ratio
1.78
1.78
0.00
2.47
2.52
0.05
38%
38%
0%
45%
46%
1%
17/18 Projected Beginning Stocks Production Imports Total Supply
1.78 5.24 0.00 7.02
1.78 5.32 0.00 7.10
0.00 0.08 0.00 0.08
2.47 6.20 0.00 8.67
2.52 6.20 0.00 8.72
0.05 0.00 0.00 0.05
Mill Exports Total Use Loss
0.12 4.56 4.67 0.00
0.12 4.61 4.72 0.00
0.00 0.05 0.05 0.00
2.65 3.01 5.65 0.00
2.66 2.86 5.51 0.00
0.01 -0.15 -0.14 0.00
Ending Stocks Stocks/Offtake Ratio
2.35
2.38
0.02
3.01
3.20
0.19
50%
50%
0%
53%
58%
5%
Choice Cotton Company, Inc.
Source: World Agricultural Supply and Demand Estimates (WASDE) http://www.usda.gov/oce/commodity/wasde/latest.pdf
