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USDA-WASDE

April-2025

COTTON: In this month’s 2024/25 U.S. cotton balance sheet, the only changes are a 100,000-bale reduction in exports to 10.9 million bales and an increase in ending stocks of the same amount to 5.0 million bales. The projected 2024/25 season average upland farm price is unchanged at 63 cents per pound.

Production, consumption, and trade are reduced in this month’s 2024/25 world cotton balance sheet while stocks are raised. Lower production in Argentina, Cote d’Ivoire, and other countries more than offsets an increase in China, for an overall decline of 69,000 bales. Global textile mill use is down 520,000 bales this month, primarily because of reductions for China and Indonesia that more than offset an increase for Turkey. Similarly, imports are lower this month as reductions for China and Indonesia more than offset an increase for Turkey, with small changes elsewhere. Exports are reduced for Australia, Brazil, the United States, Cote d’Ivoire, and other countries, more than offsetting increases for Turkey and Kazakhstan. Beginning stocks are increased 25,000 bales following back year adjustments to imports, consumption, and ending stocks for Egypt. World ending stocks for 2024/25 are raised over 520,000 bales, with increases for China, Australia, Brazil, Egypt, and the United States that more than offset reductions for Turkey and Argentina, with largely offsetting changes elsewhere.

USDA-WASDE

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