Capital Market / 10:51 , Dec 11, 2010
As per the latest release from World Agricultural Supply and Demand Estimates by USDA, world cotton Production is raised nearly 300,000 bales, as increases for Australia and Brazil more than offset decreases for Pakistan, Uzbekistan, Greece, and the United States. World consumption is reduced based on lower estimates for Pakistan and India, partially offset by an increase for the United States. World trade is down slightly, despite higher world production, as most of the larger southern hemisphere production will be shipped in 2011/12. World stocks are now forecast at 43.4 million bales, marginally below the beginning level.
U. S Cotton Production is reduced 150,000 bales, as lower production in Texas is partially offset by an increase in the Southeast. Domestic mill use is raised 100,000 bales, based on stronger-than-expected consumption in recent months. The export estimate is unchanged. Ending stocks are now forecast at 1.9 million bales, or 10 percent of total use. The forecast average price received by producers of 76 to 86 cents per pound is raised 2 cents on the lower end of the range.
Source :http://www.indiainfoline.com/Markets/News/WASDE-Updates-Global-Cotton-Consumption-Seen-Down/3440879211
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment