USDA cuts cotton crop guess
The USDA has slashed its 2020 U.S. cotton production outlook.
As of December 1st, domestic upland cotton production is seen at 15.395 million bales, 1.14 million bales less than in November, primarily because of drought or near drought conditions in parts of Texas, lowering that state’s production estimate by about 900,000 bales.
U.S. cotton ending stocks were down on the month because of that lower production guess, along with a slight increase in exports.
U.S. rice ending stocks were raised more than a million hundredweight to almost 51 million with lower imports canceled out by a reduction in exports.
World cotton ending stocks were also down on the month on lower global production and increased export and domestic demand, while world rice ending stocks were modestly lower, mainly on increased export demand.
The USDA’s next set of supply, demand, and production numbers is out January 12th.
Upland cotton comparisons for Brownfield states:
Arkansas: Cotton: 1.3 million bales, compared to 1.506 million in 2019; average yield of 1,200 pounds per acre, compared to 1,200 a month ago and 1,185 a year ago; harvested area of 520,000 acres, compared to 610,000 last year
Missouri: Cotton: 740,000 bales, compared to 915,000 in 2019; average yield of 1,238 pounds per acre, compared to 1,146 a month ago and 1,193 a year ago; harvested area of 287,000 acres, compared to 368,000 last year
Tennessee: Cotton: 680,000 bales, compared to 960,000 in 2019; average yield of 1,187 pounds per acre, compared to 1,117 a month ago and 1,138 a year ago; harvested area of 275,000 acres, compared to 405,000 last year