The government will probably lower its estimates for the recent U.S. cotton crop and unsold supplies at the end of the marketing year, according to a survey of six analysts by Bloomberg News. The forecast for exports in the year ending July 31 will be raised, most analysts said.
The estimates are listed below in millions of bales, each weighing 480 pounds, or 218 kilograms. The U.S. Department of Agriculture will update its outlook on April 10 at 8:30 a.m. inWashington. The U.S. is the world’s biggest exporter of the fiber.
2011-2012 Estimates USDA Estimates
Average Range March 2010-2011
Production 15.57 15.47-15.7 15.67 18.1
Exports 11.29 10.8-11.65 11.0 14.38
Ending Stocks 3.48 3.01-3.9 3.9 2.6
SOURCE OUTPUT EXPORTS ENDING STOCKS
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Penson 15.56 11.65 3.01
Rabobank 15.7 11.5 3.4
Kropf & Love 15.67 11 3.9
Plexus 15.5 11.5 3.3
Stevens 15.5 11.3 3.45
Country Hedging 15.47 10.8 3.8
