USDA Zeros in on Final Crop Production Numbers
Thursday, February 9th, 2012
USDA did not make changes in production forecasts for major U.S. crops in its Feb. 9 Crop Production and World Agricultural Supply and Demand Estimates, but continued to tweak U.S. and world export and world production figures.
USDA projected marginally lower domestic mill use for cotton in 2011-12 compared with the previous month, and did not change the production estimate of 15.67 million bales. Ending stocks were raised 100,000 bales to 3.8 million, for a stocks-to-use ratio of 26 percent.
World 2011-12 cotton production was raised 505,000 bales due largely to higher estimated production for Pakistan. Forecast world consumption was reduced slightly, including decreases for Thailand, the United States, and others.
Read More: Southeast Farm Press