U.S. Cotton Supply and Use -- May 2007

                          U. S. Cotton Supply and Use 1/
===============================================================================
                           :         :         :      2007/08  Projections
        Item               : 2005/06 : 2006/07 :===============================
                           :         :   Est.  :                         May
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                           :               Million acres
Area                       :                            
  Planted                  :  14.25      15.27                         12.15 *
  Harvested                :  13.80      12.73                         11.00 *
                           :
                           :                   Pounds 
Yield per harvested        :
    acre                   :    831        814                           820 *
                           :
                           :             Million 480 pound bales
                           :
Beginning stocks 2/        :   5.50       6.05                          9.50
Production                 :  23.89      21.59                         18.80
Imports                    :   0.03       0.02                          0.02
  Supply, total            :  29.41      27.65                         28.32
Domestic use               :   5.87       4.90                          4.40
Exports                    :  18.04      13.25                         17.50
  Use, total               :  23.91      18.15                         21.90
Unaccounted 3/             :  -0.55       0.00                          0.02
Ending stocks              :   6.05       9.50                          6.40
                           :
Avg. farm price 4/         :   47.7       47.8                            5/
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1/ Upland and extra-long staple; marketing year beginning August 1.  Totals may
not add due to rounding.  2/ Based on Bureau of Census data.  3/ Reflects the
difference between the previous season's supply less total use and ending
stocks based on Bureau of Census data.  4/ Cents per pound for upland cotton.  
The 2006/07 price is a weighted average for August-March.  5/  USDA is
prohibited by law from publishing cotton price projections.  * Planted area is 
reported in March 30 "Prospective Plantings." Projected harvested area based on
1997-2006 average abandonment by State, adjusted to reflect favorable soil
moisture in the Southwest.   Projected yield per harvested acre based on
2004-2006 average yields by State.



Note:  Public Law 106-78, signed October 22, 1999, requires the Secretary of
Agriculture to estimate and report the U.S. upland cotton season-ending
stocks-to-use ratio, excluding projected raw cotton imports but including the
quantity of raw cotton imports that has been imported during the marketing
year.  Pursuant to this requirement, the estimated ratio for 2006/07 is 54.1
percent.