Cotton production in the U.S., the world’s largest exporter, may be higher than the government forecast in October, according to the average estimate of 10 analysts in a Bloomberg News survey.
Estimates for cotton output, exports and inventories for the marketing year that ends July 31 are listed below in millions of bales, each weighing 480 pounds, or 218 kilograms. The U.S. Department of Agriculture will update its predictions on Nov. 9 at 8:30 a.m. in Washington.
2010-2011 Estimates USDA Estimates
Average Range October 2009-2010
Production 18.92 18.7-19.1 18.87 12.19
Exports 15.71 15.5-16 15.5 12.04
Ending Stocks 2.56 2.35-2.7 2.7 2.95
SOURCE OUTPUT EXPORTS ENDING STOCKS ============================================================== Country Hedging 18.85 15.7 2.5 FCStone 18.7 15.55 2.5 First Capitol 19.004 15.8 2.7 Flanagan 18.7 15.7 2.35 J. Ganes Consulting 18.97 15.6 2.7 Kropf & Love 19 16 2.35 Plexus 19.1 16 2.5 Price Futures 18.847 15.5 2.67 Stevens 19 15.7 2.65 Texas A&M 19 15.5 2.7