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Macroeconomic Environment

U.S. and World Cotton Economic Outlook January 2011 Prepared by: Economic Services National Cotton Council. Macroeconomic Environment. Real GDP Growth in Selected Countries. U.S. Cotton Supply. December Cotton Futures. Cents per Pound. December Corn Futures. Cents per Bushel.

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Macroeconomic Environment

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  1. U.S. and World Cotton Economic OutlookJanuary 2011Prepared by:Economic ServicesNational Cotton Council

  2. Macroeconomic Environment

  3. Real GDP Growthin Selected Countries

  4. U.S. Cotton Supply

  5. December Cotton Futures Cents per Pound

  6. December Corn Futures Cents per Bushel

  7. November Soybean Futures Cents per Bushel

  8. 2010 U.S. Cotton Plantings Thousand Acres 2009 2010 % Actual Estimated* Change Southeast 1,891 2,597 37.3 Mid-South 1,627 1,920 18.0 Southwest 5,243 5,886 12.3 West 247 366 48.1 ALL UPLAND9,00810,76919.5 ALL ELS 141 204 44.4 ALL COTTON 9,150 10,973 19.9 *USDA June Acreage Report - Revised

  9. 2010 U.S. Cotton Plantings Thousand Hectares 2009 2010 % Actual Estimated* Change Southeast 765 1,051 37.3 Mid-South 658 777 18.0 Southwest 2,122 2,382 12.3 West 100 148 48.1 ALL UPLAND3,6454,35819.5 ALL ELS 57 83 44.4 ALL COTTON 3,703 4,441 19.9 *USDA June Acreage Report - Revised

  10. U.S. Cotton Production

  11. U.S. Cotton Supply

  12. U.S. Cotton Demand

  13. Net Domestic Fiber Consumption

  14. Cotton’s Share of Fiber Consumption

  15. U.S. Cotton Retail Consumption 2010 2009

  16. Components of Retail Cotton Consumption

  17. U.S. Cotton Textile Imports

  18. U.S. Cotton Content in Textile Imports

  19. U.S. Trade With Mexico

  20. U.S. Trade with CBI

  21. U.S. Imports from China

  22. U.S. Cotton Mill Use(Calendar Year, Million Bales)

  23. U.S. Cotton Mill Use 2010 2009

  24. U.S. Cotton Mill Use(Crop Year, Million Bales)

  25. U.S. Cotton Production & Use

  26. The World Market & U.S. Cotton Exports

  27. China Cotton Supply & Use

  28. World Cotton Production

  29. World Fiber Mill Use *PCI

  30. Fiber Prices

  31. World Cotton Mill Use

  32. Foreign Cotton Production & Use

  33. U.S. Cotton Exports

  34. World Cotton Ending Stocks

  35. Cotton Stocks/Use(World less China)

  36. U.S. Supply and DemandMillion Bales Beginning Stocks 6.34 2.95 Production 12.19 18.32 Imports 0.00 0.01 Total Supply 18.53 21.27 Mill Use 3.46 3.60 Exports 12.04 15.75 Total Offtake 15.50 19.35 Ending Stocks 2.95 1.90 Stocks-to-Use Ratio 19.0% 9.8% 2009/10e 2010/11p

  37. U.S. Supply and DemandMillion Metric Tons Beginning Stocks 1.38 0.64 Production 2.66 3.99 Imports 0.00 0.00 Total Supply 4.04 4.63 Mill Use 0.75 0.78 Exports 2.62 3.43 Total Offtake 3.38 4.22 Ending Stocks 0.64 0.41 Stocks-to-Use Ratio 19.0% 9.8% 2009/10e 2010/11p

  38. World Supply and DemandMillion Bales 2009/10e 2010/11p Beginning Stocks 60.52 43.85 Production 101.54 115.46 Imports 35.88 38.32 Mill Use 118.52 116.58 Exports 35.60 38.35 Ending Stocks 43.85 42.84 Stocks-to-Use Ratio 37.0% 36.7%

  39. World Supply and DemandMillion Metric Tons 2009/10e 2010/11p Beginning Stocks 13.19 9.55 Production 22.12 25.15 Imports 7.82 8.35 Mill Use 25.82 25.40 Exports 7.76 8.36 Ending Stocks 9.55 9.33 Stocks-to-Use Ratio 37.0% 36.7%

  40. Producers Cooperatives Warehouses Manufacturers Ginners Cottonseed Merchants

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