Cotton Supply and Demand

Estimates from the World Agricultural Outlook Board of USDA.

MY 2017-18

Million 480-Lb. Bales

Month Beginning Stocks Production Imports Mill Use Exports Ending Stocks S-U-R
Ratio

World

May

89.52

113.22

37.63

115.75

37.63

87.14

75.3%

June 89.34 114.73 36.85 116.51 36.84 87.71 75.3%
July 90.27 115.36 36.77 117.03 36.81 88.73 75.8%
August 89.99 117.31 37.19 117.40 37.17 90.09 76.7%
September 89.57 120.75 37.82 117.75 37.78 92.54 78.6%
October 89.57 120.86 38.20 118.01 38.22 92.38 78.3%
November 88.67 121.46 38.03 119.25 38.04 90.88 76.2%
December 87.65 119.96 38.48 119.59 38.46 88.00 73.6%
January 87.64 120.97 38.37 120.83 38.38 87.79 72.7%

United States

May

3.20

19.20

0.01

3.40

14.00

5.00

28.7%

June 3.20 19.20 0.01 3.40 13.50 5.50 32.5%
July 3.20 19.00 0.01 3.40 13.50 5.30 31.4%
August 2.80 20.55 0.01 3.35 14.20 5.80 33.0%
September 2.75 21.76 0.01 3.35 14.90 6.00 32.9%
October 2.75 21.12 0.01 3.35 14.50 5.80 32.5%
November 2.75 21.38 0.01 3.35 14.50 6.10 34.2%
December 2.75 21.44 0.01 3.35 14.80 5.80 32.0%
January 2.75 21.26 0.01 3.35 14.80 5.70 31.4%

Total Foreign

May

86.32

94.02

37.62

112.35

23.63

82.14

60.4%

June 86.14 95.53 36.84 113.11 23.34 82.21 60.2%
July 87.07 96.36 36.76 113.63 23.31 83.43 60.9%
August 87.19 96.76 37.18 114.05 22.97 84.29 61.5%
September 86.82 98.99 37.81 114.40 22.88 86.54 63.0%
October 86.82 99.75 38.19 114.66 23.72 86.58 62.6%
November 85.92 100.08 38.02 115.9 23.54 84.78 60.8%
December 84.90 98.52 38.47 116.24 23.66 82.20 58.8%
January 84.89 99.70 38.36 117.48 23.58 82.09 58.2%

China

May

48.70

23.50

5.00

37.50

0.05

39.65

105.6%

June 48.40 24.00 5.00 38.00 0.05 39.35 103.4%
July 48.40 24.00 5.00 38.00 0.05 39.35 103.4%
August 48.40 24.50 5.00 38.50 0.05 39.35 102.1%
September 48.42 24.50 5.10 38.50 0.05 39.47 102.4%
October 48.42 24.50 5.10 38.50 0.05 39.47 102.4%
November 48.42 25.00 5.30 39.00 0.05 39.67 101.6%
December 48.42 25.00 5.30 39.00 0.05 39.67 101.6%
January 48.42 26.40 5.00 40.00 0.05 39.77 99.3%
 

Historical Data

Million 480-Lb. Bales

Marketing
Year

Beginning Stocks Production Imports Mill Use Exports Ending Stocks S-U-R
Ratio

World

16/17 95.35 106.56 37.62 114.77 37.24 87.64 76.4%

15/16

111.15

96.15

35.42

112.26

35.13

95.35

84.9%

14/15

102.96

119.19

36.10

111.84

35.15

111.15

99.4%

13/14

92.07

120.37

41.23

110.02

41.05

102.96

93.6%

12/13

74.50

123.90

47.66

108.33

46.46

92.07

85.0%

11/12

51.21

127.65

45.46

104.18

46.02

74.50

71.5%

10/11

47.75

117.63

36.30

115.55

34.91

51.21

44.3%

09/10

62.70

103.38

36.92

119.53

35.78

47.75

39.9%

08/09

62.77

108.30

30.62

110.32

30.21

62.70

56.8%

07/08

63.43

120.58

39.46

123.87

38.92

62.77

50.7%

06/07

62.05

123.01

38.31

124.24

37.42

63.43

51.0%

05/06

61.11

116.33

44.69

116.96

44.92

62.05

53.1%

04/05

48.51

121.52

33.99

109.20

34.95

61.11

56.0%

03/04

47.93

96.69

34.18

98.04

33.15

48.51

49.5%

02/03

54.69

91.03

30.23

98.42

30.40

47.93

48.7%

01/02

49.58

98.51

29.32

94.42

29.08

54.69

57.9%

00/01

51.15

89.11

26.23

92.18

26.16

49.58

53.8%

99/00

52.86

87.92

27.98

91.09

27.13

51.15

56.2%

98/99

49.47

86.07

24.48

84.77

23.52

52.86

62.4%

97/98

44.64

92.37

25.93

87.27

26.78

49.47

56.7%

96/97

40.14

90.05

28.58

87.94

26.78

44.64

50.8%

95/96

32.02

93.90

27.00

85.94

27.40

40.14

46.7%

United States

16/17 3.80 17.17 0.01 3.25 14.92 2.75 15.1%

15/16

3.65

12.89

0.03

3.45

9.15

3.80

30.2%

14/15

2.35

16.32

0.01

3.58

11.25

3.65

24.6%

13/14

3.80

12.91

0.01

3.55

10.53

2.35

16.7%

12/13

3.35

17.31

0.01

3.50

13.03

3.80

23.0%

11/12

2.60

15.57

0.02

3.30

11.71

3.35

22.3%

10/11

2.95

18.10

0.01

3.90

14.38

2.60

14.2%

09/10

6.34

12.18

0.00

3.55

12.04

2.95

18.9%

08/09

10.05

12.83

0.00

3.54

13.26

6.34

37.7%

07/08

9.48

19.21

0.01

4.58

13.63

10.05

55.2%

06/07

6.07

21.59

0.02

4.94

12.96

9.48

53.0%

05/06

5.50

23.89

0.03

5.87

17.67

6.07

25.8%

04/05

3.45

23.25

0.03

6.69

14.44

5.50

26.0%

03/04

5.39

18.26

0.05

6.27

13.76

3.45

17.2%

02/03

7.45

17.21

0.07

7.27

11.90

5.39

28.1%

01/02

6.00

20.30

0.02

7.70

11.00

7.45

39.8%

00/01

3.92

17.19

0.02

8.86

6.74

6.00

38.5%

99/00

3.94

16.97

0.10

10.19

6.75

3.92

23.1%

98/99

3.89

13.92

0.44

10.40

4.30

3.94

26.8%

97/98

3.97

18.79

0.01

11.35

7.50

3.89

20.6%

96/97

2.61

18.94

0.40

11.13

6.87

3.97

22.1%

95/96

2.65

17.90

0.41

10.65

7.68

2.61

14.2%

Total Foreign

16/17 91.55 89.39 37.61 111.52 22.33 84.89 63.4%

15/16

107.50

83.26

35.39

108.81

25.98

91.55

67.9%

14/15

100.61

102.87

36.08

108.26

23.91

107.50

81.3%

13/14

88.27

107.46

41.22

106.47

30.52

100.61

73.4%

12/13

71.15

106.59

47.65

104.83

33.44

88.27

63.8%

11/12

48.61

112.08

45.44

100.88

34.30

71.15

52.5%

10/11

44.80

99.53

36.29

111.65

20.53

48.61

36.8%

09/10

56.36

91.20

36.92

115.98

23.74

44.80

32.1%

08/09

52.72

95.47

30.62

106.78

16.95

56.36

45.6%

07/08

53.95

101.37

39.45

119.29

25.28

52.72

36.5%

06/07

55.98

101.43

38.29

119.31

24.46

53.95

37.5%

05/06 55.62 92.44 44.67 111.09 27.25 55.98 40.5%
04/05 45.06 98.27 33.96 102.51 20.51 55.62 45.2%
03/04 42.54 78.44 34.13 91.78 19.39 45.06 40.5%
02/03 47.24 73.82 30.17 91.15 18.50 42.54 38.8%
01/02 43.58 78.20 29.30 86.72 18.08 47.24 45.1%
00/01 47.23 71.92 26.21 83.32 19.42 43.58 42.4%
99/00 48.92 70.96 27.88 80.89 20.38 47.23 46.6%
98/99 45.59 72.16 24.04 74.36 19.22 48.92 52.3%
97/98 40.67 73.58 25.92 75.92 19.28 45.59 47.9%
96/97 37.53 71.11 28.18 76.81 19.91 40.67 42.0%
95/96 29.37 76.00 26.60 75.29 19.72 37.53 39.5%

China

16/17 58.20 22.75 5.03 37.50 0.06 48.42 128.9%

15/16

66.92

22.00

4.41

35.00

0.13

58.20

165.7%

14/15

62.71

30.00

8.28

34.00

0.07

66.92

196.4%

13/14

50.36

32.75

14.12

34.50

0.03

62.71

181.6%

12/13

31.08

35.00

20.33

36.00

0.05

50.36

139.7%

11/12

10.60

34.00

24.53

38.00

0.06

31.08

81.7%

10/11

14.25

30.50

11.98

46.00

0.12

10.60

23.0%

09/10

21.37

32.00

10.90

50.00

0.02

14.25

28.5%

08/09

20.50

36.70

7.00

44.00

0.08

21.37

48.5%

07/08

20.54

37.00

11.53

51.00

0.06

20.50

40.2%

06/07

22.54

35.50

10.59

50.00

0.09

20.54

41.0%

05/06 18.39 28.40 19.28 45.00 0.04 22.54 50.0%
04/05 18.98 30.30 6.39 38.50 0.03 18.39 47.7%
03/04 17.47 23.80 8.83 32.00 0.17 18.98 59.0%
02/03 18.85 25.20 3.13 29.90 0.75 17.47 57.0%
01/02 19.74 24.40 0.45 26.25 0.34 18.85 70.9%
00/01 22.38 20.30 0.23 23.50 0.44 19.74 82.5%
99/00 26.93 17.60 0.12 21.30 1.69 22.38 97.3%
98/99 24.55 20.70 0.33 18.70 0.68 26.93 139.0%
97/98 20.20 21.10 1.73 19.15 0.03 24.55 128.0%
96/97 16.74 19.30 3.49 19.95 0.01 20.20 101.2%
95/96 10.78 21.90 2.91 19.40 0.02 16.74 86.2%