Global cotton mill use forecast to rise in 2020/21

[...]just when there appeared to be a loosening up on trade restrictions, as noted in the U.S.-China Phase One trade deal signed last January, the COVID-19 pandemic negatively affected world demand and disrupted supply chains. [...]some of that fiber will come from imports, forecast at 9.5 million b...

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Bibliographic Details
Published in:Western Farm Press 2021-01
Main Author: Sahs, Roger
Format: Article
Language:English
Subjects:
Commercial policy
Commercial treaties
Commodity futures
Coronaviruses
Cotton
Cotton industry
COVID-19
Economic forecasting
Forecasts and trends
Imports
International trade
Loosening
Statistics
Trade
Trade restrictions
US exports
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Summary:[...]just when there appeared to be a loosening up on trade restrictions, as noted in the U.S.-China Phase One trade deal signed last January, the COVID-19 pandemic negatively affected world demand and disrupted supply chains. [...]some of that fiber will come from imports, forecast at 9.5 million bales as China adds foreign cotton to the national reserve for rotational purposes and for re-export in the form of textile and apparel products. While bearish ending stocks will not change overnight even if China resets its trade balance as the largest importer of U.S. cotton, there are signs of a textile and apparel sector recovery. Since U.S. producers need futures prices to be 75 cents or higher to be profitable, growers are encouraged to move quickly to take advantage of price opportunities as they occur, especially if cotton futures enter into the 75-cent realm once again. 2021 Outlook articles:
ISSN:1525-1217