WASDE Cotton: Sharply Lower US Exports, Consumption
From USDA
The 2019/20 U.S. cotton supply and demand forecasts show sharply lower exports, lower consumption, and higher ending stocks compared with last month.
A developing global economic slowdown with little precedent is expected to significantly reduce global cotton demand and trade, resulting in one of the largest one-month reductions in projected U.S. cotton exports ever: down 1.5 million bales to 15.0 million. Consumption is 100,000 bales lower, and ending stocks are 1.6 million bales higher.