Cotton Supply and Demand

Estimates from the World Agricultural Outlook Board of USDA.

MY 2018-19

Million 480-Lb. Bales

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

World

May

88.21 121.19 41.12 125.44 41.12 83.75 66.8%
June 88.21 120.40 41.06 125.35 41.07 83.02 66.2%
July 84.96 120.11 41.23 126.95 41.24 77.84 61.3%
August 84.51 120.53 41.80 127.62 41.82 77.10 60.4%
September 83.79 121.97 41.79 127.94 41.80 77.46 60.5%
October 80.89 121.66 41.44 127.76 41.45 74.45 58.3%
November 80.39 119.39 41.11 126.88 41.13 72.61 57.2%
December 80.45 118.74 41.71 125.63 41.73 73.19 58.3%

United States

May

4.70 19.50 0.01 3.40 15.50 5.20 27.5%
June 4.20 19.50 0.01 3.40 15.50 4.70 24.9%
July 4.00 18.50 0.01 3.40 15.00 4.00 21.7%
August 4.40 19.24 0.01 3.40 15.50 4.60 24.3%
September 4.30 19.68 0.01 3.40 15.70 4.70 24.6%
October 4.30 19.76 0.01 3.40 15.50 5.00 26.5%
November 4.30 18.41 0.01 3.30 15.00 4.30 23.5%
December 4.30 18.59 0.01 3.30 15.00 4.40 24.0%

Total Foreign

May

83.51 101.69 41.12 122.04 25.62 78.55 53.2%
June 84.01 100.90 41.05 121.95 25.57 78.32 53.1%
July 80.96 101.61 41.23 123.55 26.24 73.84 49.3%
August 80.11 101.29 41.79 124.22 26.32 72.50 48.2%
September 79.49 102.29 41.79 124.54 26.10 72.76 48.3%
October 76.59 101.89 41.43 124.36 25.95 69.45 46.2%
November 76.09 100.98 41.11 123.58 26.13 68.31 45.6%
December 76.15 100.15 41.71 122.33 26.73 68.79 46.1%

China

May

40.97 27.00 7.00 41.50 0.05 33.42 80.4%
June 41.17 26.50 7.00 41.50 0.05 33.12 79.7%
July 37.69 26.50 7.00 42.50 0.15 28.54 66.9%
August 37.79 26.50 7.00 42.50 0.15 28.64 67.2%
September 38.02 27.50 7.00 42.50 0.15 29.87 70.0%
October 38.02 27.50 7.00 42.50 0.15 29.87 70.0%
November 38.02 27.50 7.00 42.50 0.15 29.87 70.0%
December 38.02 27.00 7.00 41.50 0.15 30.37 72.9%
 

Historical Data

Million 480-Lb. Bales

Marketing
Year

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

World

17/18 80.40 123.70 40.98 123.16 40.99 80.45 65.3%
16/17 90.33 106.66 37.70 116.17 37.90 80.40 69.2%

15/16

107.32

96.16

35.44

113.24

34.87

90.55

80.0%

14/15

100.05

119.22

36.07

112.23

35.51

107.32

95.6%

13/14

89.33

120.36

41.20

109.91

40.84

100.05

91.0%

12/13

72.15

123.89

47.63

108.24

46.44

89.33

82.5%

11/12

49.26

127.24

45.42

104.12

45.87

72.15

69.3%

10/11

46.18

117.30

36.30

115.49

34.90

49.26

42.7%

09/10

61.45

103.08

36.93

119.49

35.80

46.18

38.6%

08/09

61.88

108.07

30.57

110.30

30.21

61.45

55.7%

07/08

62.99

120.05

39.45

123.84

38.87

61.88

50.0%

06/07

61.91

122.69

38.31

124.21

37.42

62.99

50.7%

05/06

60.98

116.36

44.67

116.97

44.92

61.91

52.9%

04/05

48.38

121.55

33.97

109.21

34.95

60.98

55.8%

03/04

47.88

96.68

34.15

98.09

33.15

48.38

49.3%

02/03

54.68

91.02

30.19

98.41

30.40

47.88

48.7%

01/02

49.56

98.50

29.30

94.38

29.08

54.68

57.9%

00/01

51.14

89.09

26.21

92.15

26.16

49.56

53.8%

99/00

52.86

87.91

27.99

91.09

27.13

51.14

56.1%

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

17/18 2.75 20.92 0.01 3.23 15.85 4.30 22.5%
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

17/18 77.65 102.77 40.98 119.94 25.15 76.15 52.5%
16/17 86.53 89.49 37.69 112.92 22.99 77.65 57.1%

15/16

103.67

83.27

35.41

109.79

25.72

86.75

64.0%

14/15

97.70

102.90

36.05

108.66

24.26

103.67

78.0%

13/14

85.53

107.45

41.19

106.36

30.31

97.70

71.5%

12/13

68.80

106.58

47.62

104.74

33.42

85.53

61.9%

11/12

46.66

111.67

45.40

100.82

34.16

68.80

51.0%

10/11

43.23

99.20

36.29

111.59

20.52

46.66

35.3%

09/10

55.12

90.90

36.93

115.94

23.77

43.23

30.9%

08/09

51.83

95.24

30.57

106.76

16.95

55.12

44.6%

07/08

53.51

101.84

39.44

119.25

25.23

51.83

35.9%

06/07

55.84

101.10

38.29

119.27

24.46

53.51

37.2%

05/06 55.48 92.47 44.64 111.10 27.25 55.84 40.4%
04/05 44.93 98.29 33.94 102.51 20.51 55.48 45.1%
03/04 42.50 78.42 34.11 91.82 19.39 44.93 40.4%
02/03 47.23 73.81 30.12 91.14 18.50 42.50 38.8%
01/02 43.56 78.20 29.28 86.69 18.08 47.23 45.1%
00/01 47.23 71.90 26.19 83.29 19.42 43.56 42.4%
99/00 48.92 70.94 27.90 80.90 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

17/18 45.92 27.50 5.73 41.00 0.13 38.02 92.4%
16/17 56.70 22.75 5.03 38.50 0.06 45.92 119.1%

15/16

66.42

22.00

4.41

36.00

0.13

56.70

156.9%

14/15

62.71

30.00

8.28

34.50

0.07

66.42

192.1%

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%