In its October 2024 World Agricultural Supply and Demand Estimates (WASDE) report, the USDA indicated that global cotton trade may decrease by over 500,000 bales, largely due to reduced imports by China. Meanwhile, global ending stocks are expected to reduce slightly to 76.3 million bales. The report did not make significant revisions to the global cotton balance sheet for 2023-24.

The WASDE report lowered US cotton production by over 300,000 bales to 14.2 million bales. Hurricane Helene caused significant damage, particularly in Georgia and North Carolina, due to strong winds and heavy rains that affected open bolls. Some other states saw minor gains, but the national all-cotton yield was reduced by 18 pounds, bringing it to 789 pounds per harvested acre.

Compared to last month, the US cotton balance sheet for 2024-25 reflects lower production, mill use, and exports. The National Agricultural Statistics Service (NASS) reduced the estimate for US all-cotton production by just over 300,000 bales to 14.2 million in its October Crop Production report, primarily due to damage from Hurricane Helene.

Georgia and North Carolina accounted for much of the reduction, as high winds and heavy rains devastated open bolls, while some other states experienced small offsetting gains. Overall, the national all-cotton yield estimate decreased by 18 pounds from last month to 789 pounds per harvested acre.

Fibre2Fashion News Desk (KUL)