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Little Change in World Cotton Outlook
WASHINGTON - Jan 12/04 - SNS -- Few changes were made to the international and domestic cotton numbers contained in the latest USDA World Agricultural Supply and Demand Estimates (WASDE) report.
World production raised slightly, as increases for Brazil and the African Franc Zone are mostly offset by a reduction for Pakistan.
The USDA said world consumption is revised down marginally, as decreases for India, Russia, South Korea, and other countries are nearly offset by increases for Brazil and Mexico. World trade is virtually unchanged, and ending stocks are raised slightly.
In the United States, 2003-04 projections are virtually unchanged this month. Production is estimated at 18.2 million bales, up 9,000 bales from last month. Domestic mill use, exports, and ending stocks are unchanged.
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