USDA Continues to Trim Global Cotton Demand

November 11, 2008 06:00 PM
 

Pro Farmer Editors

USDA’s forecasts of 2008/09 world import demand have fallen since June 2008. They state deteriorating world economic conditions are dampening consumer demand for textiles and pressuring cotton prices.

The A-index, which ranged between 70 and 80 cents from June to September, has fallen to just over 57 cents/lb. "The forecast for global consumption has fallen by 6 percent since June, largely because consumption in China has fallen from the initial projection of 55 million bales to 51 million bales, making this the first year-to-year decline in China’s consumption since 1998/99," states USDA. "As a result, world trade has declined by 14 percent from June to November.


 

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