Cotton and Wool Situation and Outlook Yearbook

Publication Type Report
Year 2007
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Organization United States Department of Agriculture
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URL http://usda.mannlib.cornell.edu/usda/current/CWS-yearbook/CWS-yearbook-12-10-2007.pdf
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Abstract After three consecutive seasons with U.S. cotton production over 21 million bales, stocks rose considerably leading up to the 2007 season. In 2007, higher expected net returns offered from some competing crops helped cut cotton area nearly 30 percent. However, growing conditions were generally favorable over most of the Cotton Belt and pushed the national yield to a record, resulting in only a moderate production decline from 2006. Nevertheless, U.S. cotton demand in 2007/08 is forecast to exceed production and therefore reduce stocks by seasonís end. World cotton mill use is projected to reach new heights in 2007/08 and exceed production. As a result, 2007/08 global ending stocks are expected to decline to their lowest level in 4 years.
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Notes According to the website, http://www.ers.usda.gov/Briefing/Cotton/ , cotton represents about 40% of worldwide fiber production (and use). However, since the remaining 60% is mostly synthetic fiber, we can assume that worldwide organic fiber production is approximately equivalent to worldwide cotton production. Wool usage represents about 1% of total fiber. From the Front Matter: Approved by the World Agricultural Outlook Board. Summary released November 21, 2007. Summaries and full text of Situation and Outlook reports may be accessed electronically via the ERS Website at www.ers.usda.gov. To order, call 1-800-999-6778 in the United States or Canada. Other areas please call (703) 605-6220. Or write ERS-NASS, 5285 Port Royal Road, Springfield, VA 22161.