US Upland cotton sales down 33%, Pima 60% last week: USDA

According to the USDA’s export sales report for the week ending November 7, significant sales increases were primarily noted for Turkiye (41,500 RB), Pakistan (40,000 RB), China (19,000 RB), Vietnam (18,900 RB, including 200 RB switched from Indonesia, with a reduction of 2,600 RB), and South Korea (12,200 RB). Total net sales of 1,000 RB for 2025-26 were recorded for Mexico.

Exports for the week totalled 112,000 RB, down 23 per cent from the previous week but up 3 per cent from the prior four-week average. The primary destinations were Pakistan (51,000 RB), Mexico (14,000 RB), Vietnam (12,900 RB), Bangladesh (8,300 RB), and El Salvador (3,400 RB).

Net sales of Pima cotton for 2024-25 totalled 4,900 RB, a 60 per cent decrease from the previous week and 37 per cent below the prior four-week average. Increases were primarily recorded for India (2,300 RB), Vietnam (1,700 RB, including 400 RB switched from Hong Kong), Peru (400 RB), Turkiye (400 RB), and Italy (200 RB), but were offset by reductions for Hong Kong (400 RB). Exports of Pima cotton totalled 9,500 RB, up 27 per cent from the previous week and 15 per cent from the prior four-week average. The main destinations were India (6,700 RB), China (1,600 RB), Thailand (400 RB), Pakistan (400 RB), and Vietnam (400 RB).

WASDE November 2024 Report

The global balance sheet for 2024-25 reflects reductions in world production, consumption, beginning and ending stocks, and trade. Production is forecast to decrease by 460,000 bales, with the largest reductions in Pakistan and Turkmenistan. Consumption is expected to decline by 515,000 bales, primarily due to reduced demand in Turkiye and Pakistan. Ending stocks are projected to fall by 574,000 bales, with significant decreases in India, Turkmenistan, and Pakistan more than offsetting increases in the US and Uzbekistan. World trade is reduced by 295,000 bales, driven by lower imports by Turkiye, partially balanced by higher imports by Uzbekistan and Egypt. Historical revisions to production for the 2023-24 global balance sheet also lead to lower ending stocks.

The US cotton balance sheet for 2024-25 indicates slightly lower production, reduced exports, and higher ending stocks. NASS revised its estimate for total US cotton production downward by 10,000 bales to just below 14.2 million bales in the November Crop Production report. While Georgia’s crop forecast was raised by about 200,000 bales, this increase was offset by a similar reduction in Texas, along with minor adjustments elsewhere. The national all-cotton yield estimate remains unchanged from the previous month at 789 pounds per harvested acre.

With global consumption and imports declining, US exports are reduced by 200,000 bales to 11.3 million. Ending stocks are raised by 200,000 bales to 4.3 million, resulting in a stocks-to-use ratio of approximately 33 per cent. The 2024-25 season average upland farm price remains unchanged at 66 cents per pound. No revisions were made to the 2023-24 US cotton balance sheet.

Fibre2Fashion News Desk (KUL)