USDA’s September 2024 report projects a 1.2 million bale reduction in global cotton production, now at 116.4 million bales, with global ending stocks lowered to 76.5 million.
Consumption estimates are down by 460,000 bales, mainly in Vietnam, Bangladesh and Turkiye.
US cotton production is cut by 600,000 bales to 14.5 million, with exports also revised down.