The U.S. Department of Agriculture (USDA) has raised its global cotton production forecast for February 2025 to 120.
46 million bales, up from 119.45 million in January. This adjustment reflects an increase in production, particularly in China, which accounted for most of the global rise.
Global cotton ending stocks also grew by 500,000 bales, reaching 78.41 million bales. Despite global uncertainties, cotton exports were projected to increase by 30,000 bales, totaling 42.
51 million bales. U.S. cotton exports remain steady at 11 million bales, while domestic consumption has seen a slight decline.
Global cotton consumption saw modest changes, with increases in Bangladesh, Pakistan, and Vietnam, but decreases in India and the U.S. The USDA revised its U.S. cotton consumption forecast down by 100,000 bales for the 2024-25 season, while the ending stock forecast for U.S. cotton was raised by 100,000 bales to 4.90 million.
The USDA also reduced the 2024-25 average Upland farm price projection to 63.5 cents per pound. The overall outlook highlights higher global cotton production, stocks, and exports, despite some regional consumption and trade fluctuations.
