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World Cotton Supplies Improve
WASHINGTON - Dec 11/06 - SNS -- The 2006-07 season started with slightly more cotton available to world markets than initially expected, while this season's harvest also looks to be bigger, according to the latest USDA World Agricultural Outlook Board forecasts.
Beginning stocks are raised in India and the African Franc Zone due to adjustments in 2005-06 trade. Production for the current season is raised in China, Brazil, and Turkmenistan, but lowered in Australia, Syria, and Uzbekistan. World consumption and trade are virtually unchanged. Ending stocks are raised to 51.5 million bales, an increase of nearly 1% from last month.
This month's 2006-07 U.S. cotton supply and demand estimates include lower domestic mill use and exports, resulting in higher ending stocks. Production is virtually unchanged, as a significant increase for Georgia is about offset by lower estimates for the Carolinas, the Delta States, and the California Pima crop.
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