USDA December Production Report

In its December crop report, USDA estimated a 2017-18 U.S. crop of 21.44 million bales. Upland production was estimated at 20.71 million bales and extra-long staple (ELS) production at 727,000 bales. Harvested area was an estimated 11.41 million acres, implying a non-harvested area of about 1.21 million acres based on USDA’s revised acreage report. The resulting abandonment rate is about 9.62%. The national yield per harvested acre was estimated to be about 902 pounds, 63 pounds more than the five-year average. If realized, the cotton yield forecast will be the highest yield on record.