USDA&Nbsp; Report: Tight Stock In The US And The World
The forecast released by the US Department of agriculture on Thursday showed that the world consumption recovery continued to reduce the United States and the world.
cotton
Inventory, analysts said, favorable fundamentals to provide support for the cotton market.
Thursday, the United States
Ministry of Agriculture
Released its output and supply and demand report in June, including 2009-10 years of data and 2010-11 years of cotton outlook.
Cotton prices have not responded to the report, because these positive factors have been absorbed by the market.
In July, cotton was strong at 1.53 a.m. to 82.85 cents / pound in the near future.
Mike Stevens, an independent cotton broker and analyst in Louisiana, said the adjustment was modest.
The market is indeed in the bullish mood.
As the world economy recovers,
World cotton mill
Consumption increased, so the US Department of agriculture raised the US cotton exports to 12 million 250 thousand bales in 2009-10, larger than the 12 million package forecast in May.
The US Department of agriculture has increased its world cotton consumption in 2009-10, up from 115 million 890 thousand packages forecast last month to 116 million 430 thousand bales.
The US Department of agriculture also lowered its 2009-10 year world final inventory to 52 million 210 thousand packs, down from the 52 million 750 thousand package forecast last month.
The US Department of agriculture did not adjust the outlook of the US cotton for the past 2010-11 years, only the final inventory was adjusted.
The final inventory is expected to be 2 million 800 thousand packages, lower than the 3 million package forecast for last month's report.
Analysts say the 2010-11 cotton output in the United States is locked at 16 million 700 thousand bales (480 pounds), and US cotton exports are expected to be 13 million 500 thousand packages.
The amount of domestic textile mill in the United States is 3 million 300 thousand bales.
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