COTTON AND WOOL OUTLOOK April 14, 1997 Approved by the World Agricultural Outlook Board ------------------------------------------------------------------------------ COTTON AND WOOL OUTLOOK is published monthly (except January) by the Economic Research Service, U.S. Department of Agriculture, Washington, DC 20005-4788. CWS-0397. ------------------------------------------------------------------------------ Marginally Lower Area Projected in 1997 Farmers intend to plant nearly 14.5 million acres (1 percent less) of cotton in 1997, according to USDA's Prospective Plantings report released March 31. Upland plantings are projected at 14.2 million acres, 1 percent below 1996, while extra-long staple (ELS) area is expected to fall 5 percent to 245,000 acres. Upland acreage indications in the Delta and West regions, at 3.7 million and 1.3 million acres, respectively, are 6 percent below 1996 plantings. In contrast, producers in the Southwest and Southeast intend to plant 2 percent more area to cotton in 1997. The Southwest is projected at 6.1 million acres, while the Southeast is at nearly 3.2 million. Although the first official 1997 USDA cotton supply and demand projections based on the Prospective Plantings will not be released until May 12, the carryin stock estimate has declined significantly over the last several months. The current ending stock estimate for 1996/97 is 3.95 million bales, 750,000 bales below the January projection. In May, final 1996 ginnings and production will also be released. Total 1996/97 U.S. cotton supplies are currently estimated at 22 million bales, while total use is projected at 18 million, leaving the ending stocks-to-use ratio at 21.9 percent. U.S. 1996/97 Exports and China's Crop Raised This Month U.S. exports for 1996/97 were raised 200,000 bales this month, to 7.0 million, as the forecast for Pakistan's exports was cut 300,000 bales and U.S. export sales and shipments continued to surge. China in particular has been a strong buyer from the United States in the last month, and the outlook continues to improve for the U.S. share of China's imports. The U.S. trade share on a global basis in 1996/97 is now forecast at 26 percent, compared with 25 percent in March and 28 percent in 1995/96. Expected foreign consumption for 1996/97 rose 300,000 bales this month, to 75.6 million, and expected foreign exports fell 500,000 bales to 19.8 million. There was a large increase in expected foreign production compared with a month earlier in April, but virtually the entire increase occurred in China, where the impact of production on trade is not as immediate or direct as it is in many other countries. With no change in expected imports by either China or Brazil--the world's two largest importers--this month, expected foreign imports in 1996/97 were about unchanged compared with a month earlier at 27.2 million bales. China's 1996/97 Cotton Crop at 19.3 Million Bales USDA's estimate of China's 1996/97 crop was raised 1.8 million bales to 19.3 million bales this month. This change aligns USDA's estimate with China's official data released by the State Statistical Bureau (SSB) a short time ago. In some respects--and according to many outside observers--the SSB's number is surprisingly high. This marks SSB's second upward revision this year, and while 19.3 million bales is well below 1995/96's 21.9 million, China's stocks continue to grow (up 2 million bales in 1996/97) despite lower import and higher consumption estimates this year compared with last. According to some observers, SSB's crop estimates have been too high for several years. Continued large imports in the face of soaring estimated Chinese stocks, and relatively low government cotton procurement, are cited as evidence that China's official production statistics exceed actual production. However, confidently asserting that China's level of imports is incompatible with its officially reported level of production assumes certainty about the level of consumption and ending stocks. But, since there are no official cotton consumption data from China, estimates must be derived in part from the SSB data for production of yarn. However, since the yarn data includes fibers other than cotton, and not all cotton is used for yarn, all published estimates of China's cotton consumption include a subjective element. There are several sources of uncertainty about Chinese yarn production statistics. Most important is that in China, cotton is strictly controlled by the government. Unlike other agricultural products, sales of cotton to anyone other than the government's Cotton and Jute Company (CJC) are illegal. They occur nonetheless. According to international press reports this year, the Supply and Marketing Cooperatives (SMC, which controls CJC) has highlighted the role of black market sales in this year's reduced government procurement from farmers. Procurement is a poor guide to production for this reason. Earlier in the 1990's, farmers avoided the procurement system because it offered prices that were too low, and prices were eventually raised. This year, the difficulty faced by CJC/SMC in selling its high-priced cotton to the financially pressed state mills has in turn made it difficult for CJC/SMC to pay farmers promptly for their cotton. Not surprisingly, other marketing channels have come into play. While some of this black market cotton probably finds its way into the state sector, some of it probably finds unofficial uses in addition to unofficial marketing channels. It is possible that there are many cotton spinners in China who are energetically and successfully keeping themselves hidden from official government bodies. Recurring government efforts to reduce the number of spindles in China are directed both at inefficient state mills, and at hidden operations that are in part based on using the older, ostensibly retired spindles from state mills. Regarding ending stocks, there are also many rational reasons for holding higher stocks/use in China than in a country like the United States. China's economy has many inefficiencies, one being poor links between provinces. For many years, development policy pursued regional self-sufficiency. The residual effects of this legacy include poor transportation. Legal contracts are also less binding in China than in western market economies. And, while inflation is currently low in China, it remains above the levels of developed countries and has a very recent history of being very much higher. Each of these factors could make holding larger stocks attractive. In addition, Chinas government maintains stocks in a large strategic reserve. Furthermore, the usability of China's stocks is a big unknown. Farmers may store cotton on farms for long periods while awaiting favorable prices. This cotton may be stored unginned, and some observers cite storage in seed cotton form for years, damaging quality. Thus the cotton could have been produced and eventually procured, but should be included in a loss category rather than as stocks. These are large unknowns, and in the light of such uncertainty about the level of consumption and stocks in China, the higher production estimate from SSB seems plausible. No other published estimates of China's crops are backed by the same level of resources and access to information enjoyed by the SSB. Collecting accurate statistics in a rapidly growing country as large as China is difficult, and weighing the relative uncertainties and statistical resources of various sources of data, China's official estimates are most preferable. February U.S. Mill Use Sluggish According to the latest U.S. Commerce Department data, preliminary seasonally adjusted consumption for both cotton and manmade fibers was slightly below the revised January data. For cotton, the seasonally adjusted daily rate fell to 40,100 running bales, the second lowest of the season, but 4 percent above February 1996. On a seasonally adjust annual rate (SAAR) basis, February's mill use dropped to 10.8 million statistical bales, the lowest since October. However, the SAAR has averaged nearly 10.9 million bales through February. Cotton mill use during the first 7 months of 1996/97 totaled 6.3 million bales, compared with 6.1 million last season. While cotton use has risen 3.5 percent above a year ago, manmade fiber consumption has increased 6 percent. The higher use of manmade fibers on the cotton system this year has kept cotton's share below last season's 78 percent. Despite February's decline, U.S. cotton mill use for 1996/97 remains estimated at 11 million bales. Cotton Prices Stable The average price received by upland producers for the first half of March was 69.1 cents per pound, up about a penny from February's revised price but well below the 76.8-cent-average posted during March 1996. Similarly, both the upland and ELS spot prices advanced in March. The upland base-quality spot price reached 71.1 cents per pound, while the ELS price surpassed $1.16. Mill-delivered upland prices also rose in March to nearly 78 cents per pound, while manmade fiber prices were unchanged. While fiber prices are significantly lower this season, cotton remains less competitive. A year ago, cotton was priced at 89 cents per pound, rayon at $1.20, and polyester at 88 cents. Meanwhile, U.S. prices on the world market remain very competitive. The A Index averaged 80.3 cents per pound in March while the Memphis Territory (MT) quotes averaged 82.6 cents. A year ago, nearly 11 cents separated the A Index and the MT quotation. Textile Trade Higher; Deficit Rises Preliminary textile trade data for January 1997 indicate an increase in textile imports and exports from December. U.S. textile imports totaled 710 million (raw-fiber equivalent) pounds in January, up from the month and year earlier. Imports for each fiber type also rose from December. Cotton jumped to over 370 million pounds, 10 percent above December 1996 and 15 percent higher than January 1996. In January, cotton textile imports accounted for 52 percent of the total, while manmade fiber imports contributed an additional 36 percent. Total textile exports reached 266 million pounds in January, also above both December 1996 and a year earlier. Despite small decreases in wool and silk exports, advances in manmade and cotton textile exports (which account for 93 percent of total exports) contributed to the overall gain. Cotton textile shipments approached 116 million pounds in January, 3 percent above the previous month and 10 percent higher than January 1996. Overall, the January U.S. textile trade deficit was 444 million pounds, with cotton accounting for 57 percent (255 million) of the total. Compared with January 1996, the total trade deficit was 20 percent higher, with cotton contributing to the majority of this deficit increase. 1996 Wool Production Down 11 Percent According to the National Agricultural Statistics Service, shorn wool production in the United States during 1996 was 56.7 million pounds, greasy, down 11 percent from 1995. Sheep and lambs shorn totaled 7.28 million head, compared with 8.1 million in 1995. Weight per fleece averaged 7.8 pounds, matching 1995's yield. Production in Texas, at 9.9 million pounds, declined 26 percent below a year earlier. The average price paid for wool sold during 1996 was 70 cents per pound with a total value of $39.7 million, down 38 percent from $64.3 million in 1995. Mohair production in the four major producing States (Arizona, New Mexico, Oklahoma, and Texas) during 1996 was 8.05 million pounds, down 33 percent from 1995. Goats and kids clipped, at 1.2 million head, were down 26 percent from 1995. Average weight per clip was 6.7 pounds compared with 7.4 pounds a year earlier. The national average price was $1.92 per pound, compared with $1.84 in 1995. The value of the 1996 clip was $15.5 million, down 33 percent from a year ago. * * * The next Cotton and Wool Outlook (CWS-0497) will be released on May 13. For further information, contact Leslie Meyer at (202) 501-8528 (U.S. Cotton), Steve MacDonald at (202) 219-1179 (Foreign Cotton), or Robert Skinner at (202) 219-0767 (Textiles and Wool). U.S. COTTON SUPPLY AND USE ESTIMATES ---------------------------------------------------------------------- 1996/97 ---------------------------- Item 1995/96 Feb Mar Apr ---------------------------------------------------------------------- Upland: Million acres Planted 16.72 14.41 14.41 14.41 Harvested 15.80 12.58 12.58 12.58 Pounds Yield/harvested acre 533 703 703 703 Million 480-lb. bales Beginning stocks 2.59 2.54 2.54 2.54 Production 17.53 18.42 18.42 18.42 Total supply 1/ 20.52 21.36 21.36 21.36 Mill use 10.54 10.90 10.89 10.89 Exports 7.38 6.07 6.37 6.55 Total use 17.91 16.96 17.26 17.44 Ending stocks 2.54 4.38 4.09 3.91 Percent Stocks-to-use ratio 14.2 25.8 23.7 22.4 Extra-long staple: 1,000 acres Planted 215 258 258 258 Harvested 211 256 256 256 Pounds Yield/harvested acre 836 998 998 998 1,000 480-lb. bales Beginning stocks 62 68 66 66 Production 368 533 533 533 Total supply 1/ 438 606 604 604 Mill use 109 105 110 110 Exports 300 435 435 450 Total use 409 540 545 560 Ending stocks 66 66 59 44 Percent Stocks-to-use ratio 16.1 12.2 10.8 7.9 ---------------------------------------------------------------------- Based on USDA estimates. 1/ Includes imports. WORLD COTTON SUPPLY AND USE ESTIMATES ---------------------------------------------------------------------- 1996/97 ------------------------------ Item 1995/96 Feb Mar Apr ---------------------------------------------------------------------- Supply: Million 480-lb. bales Beginning stocks World 29.32 36.33 35.62 35.68 Foreign 26.67 33.72 33.01 33.07 Production World 92.17 86.21 86.34 88.12 Foreign 74.27 67.26 67.39 69.17 Imports World 27.14 27.07 27.57 27.57 Foreign 26.74 26.67 27.17 27.17 Use: Mill use World 85.35 85.75 86.22 86.55 Foreign 74.71 74.75 75.22 75.55 Exports World 27.36 26.91 27.11 26.77 Foreign 19.68 20.41 20.31 19.77 Ending stocks World 35.68 36.75 36.00 37.85 Foreign 33.07 32.30 31.85 33.90 Stocks-to-use ratio Percent World 41.8 42.9 41.8 43.7 Foreign 44.3 43.2 42.3 44.9 --------------------------------------------------------------------- Based on USDA estimates. FIBER SUPPLY ---------------------------------------------------------------------- 1996 1997 1996 ----------------- Item Dec Jan Feb Feb ---------------------------------------------------------------------- Cotton: 1,000 480-lb. bales Ginnings 3,098 651 190 21 Imports since August 1 396.0 396.0 NA 12.8 Stocks, beginning 13,016 14,472 13,482 11,079 At mills 577 577 658 638 Public storage 10,392 11,652 10,806 8,597 CCC stocks 2,098 2,497 2,500 2,142 Manmade: Million pounds Production 862.8 905.0 794.8 770.0 Noncellulosic 823.7 862.3 744.9 732.9 Cellulosic 39.1 42.7 49.9 37.1 Total since January 1 9,981.6 905.0 1,699.8 1,574.0 1996 1997 1996 ---------------- Nov Dec Jan Jan ---------------------------------------------------------------------- Million pounds Raw fiber imports 100.7 105.3 123.0 84.2 Noncellulosic 94.7 98.2 114.0 78.9 Cellulosic 6.0 7.1 9.0 5.3 Total since January 1 1,059.0 1,164.3 123.0 84.2 Wool and Mohair: 1,000 pounds Raw wool imports, clean 4,558 5,112 9,701 9,691 48's-and-finer 3,432 3,497 7,203 7,248 Not-finer-than-46's 1,126 1,615 2,498 2,443 Total since January 1 70,258 75,370 9,701 9,691 Wool top imports 351 163 73 629 Total since January 1 3,435 3,597 73 629 Mohair imports, clean 0 0 0 2 Total since January 1 43 43 0 2 ---------------------------------------------------------------------- NA = Not available. COTTON SYSTEM FIBER CONSUMPTION ---------------------------------------------------------------------- 1996 1997 1996 ----------------- Item Dec Jan Feb Feb ---------------------------------------------------------------------- Cotton: 1,000 480-lb. bales All consumed by mills 1/ 746 976 856 869 Total since August 1 1/ 4,467 5,442 6,298 6,087 SA annual rate 2/ 10,964 10,998 10,840 10,431 SA daily rate 2/ 42.0 42.1 41.5 39.8 Daily rate 33.9 42.4 42.8 41.4 Upland consumed by mills 1/ 739 966 847 860 Total since August 1 1/ 4,425 5,391 6,238 6,025 SA annual rate 2/ 10,881 10,896 10,734 10,316 SA daily rate 2/ 41.7 41.7 41.1 39.4 Daily rate 33.6 42.0 42.4 41.0 Spindles in place 5,879 5,779 5,765 6,433 Active spindles 5,401 5,441 5,418 5,957 100 percent cotton 2,556 2,587 2,572 2,678 100 percent manmade 920 934 933 1,003 Blends 1,925 1,920 1,913 2,276 Percent Cotton's share of fibers 77.6 77.5 77.7 78.2 Manmade: 1,000 pounds Total consumed by mills 1/ 103,140 135,721 117,582 116,440 Total since August 1 1/ 609,542 745,263 862,845 811,452 Daily rate 4,688 5,900 5,879 5,545 Noncellulosic staple 4,292 5,393 5,238 4,690 Cellulosic staple 396 507 641 855 ---------------------------------------------------------------------- 1/ Adjusted to calendar month. 2/ SA = seasonally adjusted. FIBER EXPORTS ---------------------------------------------------------------------- 1996 1997 1996 ----------------- Item Nov Dec Jan Jan ---------------------------------------------------------------------- Cotton: 1,000 480-lb. bales Upland exports 535 838 587 1,204 Total since August 1 1,190 2,027 2,614 4,085 Sales for next season 45 14 76 87 Total since August 1 105 119 196 253 ELS exports 37.8 60.9 78.4 58.6 Total since August 1 88.1 149.1 227.5 152.4 Sales for next season 7.1 8.1 1.4 17.4 Total since August 1 9.0 17.1 18.5 95.6 Manmade: Million pounds Raw fiber exports 110.8 114.6 103.9 74.1 Noncellulosic 102.7 104.7 95.0 70.0 Cellulosic 8.1 9.9 8.9 4.1 Total since January 1 1,040.9 1,155.5 103.9 74.1 Wool and Mohair: 1,000 pounds Raw wool exports, clean 509.8 295.8 300.1 336.5 Total since January 1 5,419.5 5,715.3 300.1 336.5 Wool top exports 1,254.9 795.7 445.1 822.2 Total since January 1 11,323.1 12,118.9 445.1 822.2 Mohair exports, clean 0 0 0 1,236.9 Total since January 1 3,539.2 3,539.2 0 1,236.9 ---------------------------------------------------------------------- FIBER PRICES ---------------------------------------------------------------------- 1997 1996 -------------------------- Item Jan Feb Mar Mar ---------------------------------------------------------------------- Domestic cotton prices: Cents per pound Adjusted World Price 65.23 65.96 66.24 68.26 May'97 futures 75.75 75.39 74.78 81.22 Dec'97 futures 76.78 76.82 76.93 77.26 Upland spot 41-34 70.53 70.53 71.12 81.13 Pima spot 03-46 111.82 113.50 116.20 162.11 Avg. price received by: Upland producers 67.80 68.20 69.10 76.80 Mill delivered: Cotton Actual 77.97 77.68 77.95 88.77 Raw fiber equivalent 86.63 86.31 86.61 98.63 Rayon staple Actual 115.00 115.00 115.00 120.00 Raw fiber equivalent 119.79 119.79 119.79 125.00 Polyester staple Actual 70.00 70.00 70.00 88.00 Raw fiber equivalent 72.92 72.92 72.92 91.67 Price ratios Percent Cotton/rayon 72.3 72.1 72.3 78.9 Cotton/polyester 118.8 118.4 118.8 107.6 Northern Europe cotton quotes: Cents per pound A Index 80.01 80.45 80.26 83.18 Memphis Territory 83.30 82.50 82.63 94.13 California/Arizona 83.45 83.88 84.63 98.31 B Index 75.23 74.34 74.55 77.76 Orleans/Texas 78.95 77.94 78.25 89.88 Wool prices (clean): Dollars per pound U.S. 56's 1.30 1.30 1.27 1.35 Australian 56's 1/ 1.78 1.87 1.96 1.90 U.S. 60's 1.52 1.52 1.64 1.55 Australian 60's 1/ 1.89 1.95 2.04 2.03 U.S. 64's 1.90 1.90 2.08 1.88 Australian 64's 1/ 2.34 2.41 2.54 2.38 ---------------------------------------------------------------------- NQ = No quotes. 1/ In bond, Charleston, SC. TEXTILE TRADE ---------------------------------------------------------------------- 1996 1997 1996 ------------------- Item Nov Dec Jan Jan ---------------------------------------------------------------------- Imports: 1,000 pounds 1/ Yarn, thread, and fabric 166,289 177,415 212,037 165,841 Cotton 72,154 77,459 86,624 65,330 Linen 14,446 20,811 32,938 35,821 Wool 3,065 3,224 3,610 3,002 Silk 845 772 750 708 Manmade 75,775 75,149 88,110 60,980 Apparel 404,024 392,029 432,746 389,768 Cotton 234,270 231,237 251,160 226,847 Linen 11,207 10,477 12,596 12,753 Wool 15,050 11,076 11,913 11,170 Silk 10,635 10,091 14,100 12,506 Manmade 132,861 129,148 142,976 126,492 House furnishings 31,536 30,877 33,451 31,545 Cotton 21,421 21,480 24,876 22,892 Linen 207 223 127 154 Wool 102 139 83 127 Silk 19 25 63 10 Manmade 9,786 9,009 8,302 8,362 Floor covering 23,558 23,175 24,426 16,729 Cotton 3,846 4,067 4,218 4,177 Linen 3,159 2,785 3,378 2,746 Wool 5,760 7,117 6,749 4,432 Silk 375 402 355 479 Manmade 10,418 8,804 9,726 4,896 Total imports 2/ 631,841 630,080 710,470 611,224 Cotton 335,132 337,909 370,834 323,250 Linen 29,037 34,324 49,061 51,509 Wool 24,075 21,640 22,454 18,790 Silk 11,874 11,291 15,269 13,704 Manmade 231,722 224,916 252,853 203,972 Exports: 1,000 pounds 1/ Yarn, thread, and fabric 126,002 110,126 114,594 105,961 Cotton 46,889 37,416 36,156 38,190 Linen 3,325 3,196 3,137 2,734 Wool 3,389 3,235 3,661 2,572 Silk 1,479 1,229 1,532 1,296 Manmade 70,920 65,050 70,108 61,170 Apparel 132,153 112,896 116,152 105,420 Cotton 80,461 68,667 72,975 61,697 Linen 2,641 2,078 2,054 1,813 Wool 6,295 5,771 4,380 4,801 Silk 2,331 2,045 1,408 1,769 Manmade 40,425 34,336 35,334 35,340 House furnishings 6,907 5,764 5,472 4,781 Cotton 4,112 3,347 3,439 2,838 Linen 214 268 179 174 Wool 104 95 49 65 Silk 112 162 134 11 Manmade 2,365 1,893 1,671 1,592 Floor covering 32,844 26,683 29,529 25,181 Cotton 3,766 2,779 2,959 2,250 Linen 1,316 1,091 1,276 1,053 Wool 1,546 1,213 1,541 1,340 Silk 3/ --- --- --- --- Manmade 26,216 21,600 23,753 20,538 Total exports 2/ 298,171 255,777 266,107 241,613 Cotton 135,270 112,254 115,562 105,019 Linen 7,504 6,642 6,653 5,782 Wool 11,354 10,330 9,642 8,796 Silk 3,922 3,435 3,074 3,176 Manmade 140,121 123,115 131,175 118,841 ---------------------------------------------------------------------- 1/ Raw fiber equivalent. Data for 1997 will be revised. 2/ Includes headgear. 3/ Absence of trade. U.S. COTTON TEXTILE IMPORTS ---------------------------------------------------------------------- 1996 1997 1996 -------------------- Country Nov Dec Jan Jan ---------------------------------------------------------------------- 1,000 pounds 1/ North America 120,680 118,421 101,737 80,268 Canada 10,734 8,173 9,479 6,933 Costa Rica 7,609 7,288 5,710 4,945 Dominican Republic 12,220 12,996 8,017 7,692 El Salvador 8,382 9,637 8,864 6,240 Guatemala 5,397 6,858 5,279 4,606 Haiti 1,101 1,150 698 546 Honduras 17,772 17,931 12,800 8,453 Jamaica 6,579 7,319 4,840 6,112 Mexico 48,272 44,898 43,827 32,253 Nicaragua 2,130 1,674 1,817 1,830 South America 6,446 8,509 6,636 9,738 Argentina 10 7 5 84 Brazil 2,269 3,375 2,431 5,210 Chile 269 257 317 471 Columbia 2,043 2,836 1,731 2,087 Peru 1,494 1,745 1,907 1,654 Europe 22,551 21,241 22,639 20,158 Estonia 683 925 848 782 France 637 639 684 444 Germany 643 728 393 375 Italy 2,909 3,245 3,035 2,661 Portugal 2,717 1,713 882 1,184 Russia 615 1,129 801 1,002 Spain 1,820 967 1,495 1,115 Turkey 8,600 7,895 10,367 8,951 United Kingdom 881 946 916 788 Asia 175,640 179,742 226,602 203,021 Bahrain 576 779 962 1,243 Bangladesh 8,626 9,821 15,332 13,042 China 25,729 26,677 40,704 19,739 Hong Kong 27,431 25,046 31,527 30,696 India 26,319 26,911 28,569 24,461 Indonesia 11,454 11,646 15,713 14,290 Israel 1,794 2,031 2,208 2,766 Japan 1,295 1,104 1,331 1,241 Macao 4,340 3,774 5,273 4,795 Malaysia 3,927 3,880 5,130 5,821 Nepal 773 850 1,315 1,296 Oman 1,183 1,663 1,725 1,951 Pakistan 19,256 18,473 21,299 21,511 Philippines 7,353 7,789 9,290 12,044 Quator 1,206 1,228 1,383 1,021 Singapore 1,617 1,518 2,416 2,157 South Korea 4,990 5,604 6,353 5,757 Sri Lanka 5,210 7,049 8,776 5,957 Taiwan 10,662 10,954 10,863 14,156 Thailand 7,286 8,578 11,085 9,781 U Arab 0m 2,106 2,001 2,701 2,751 Oceania 781 1,025 1,035 1,070 Australia 281 347 253 433 Fiji 365 483 532 424 Africa 7,824 7,997 11,076 10,547 Egypt 4,134 3,718 5,462 5,317 Lesotho 733 1,140 1,706 1,496 Mauritius 985 1,043 1,106 1,079 Morocco 437 609 624 427 South Africa 609 801 765 443 Tunisia 168 104 120 790 World 2/ 335,132 337,909 370,834 323,250 ---------------------------------------------------------------------- 1/ Raw fiber equivalent. 2/ Totals may not add due to rounding. U.S. COTTON TEXTILE EXPORTS ---------------------------------------------------------------------- 1996 1997 1996 ------------------ Country Nov Dec Jan Jan ---------------------------------------------------------------------- 1,000 pounds 1/ North America 106,815 86,096 92,946 75,789 Canada 21,308 15,186 20,022 15,030 Costa Rica 10,025 5,829 6,767 5,974 Dominican Republic 12,398 9,115 10,107 6,709 El Salvador 2,717 2,990 3,013 2,533 Guatemala 5,073 4,349 4,427 3,503 Haiti 1,190 823 737 316 Honduras 14,740 12,614 13,523 7,865 Jamaica 7,177 6,018 6,576 6,269 Mexico 30,874 28,041 26,734 26,806 South America 5,195 3,833 3,824 3,440 Argentina 237 173 298 338 Brazil 800 671 524 428 Chile 984 480 640 785 Columbia 1,831 1,507 1,210 1,295 Peru 150 205 88 238 Venezuela 753 306 779 75 Europe 10,676 9,395 6,856 12,580 Belgium 3,023 2,126 1,051 4,705 France 578 685 523 552 Germany 1,874 967 854 848 Ireland 155 81 70 381 Italy 189 247 141 395 Netherlands 655 520 624 651 United Kingdom 2,518 3,018 1,986 3,133 Asia 10,528 11,335 10,171 11,668 China 218 243 91 185 Hong Kong 1,162 1,260 1,020 1,276 Israel 805 1,834 1,610 1,575 Japan 4,559 4,538 4,309 4,860 Philippines 198 310 190 368 Saudi Arabia 477 594 702 666 Singapore 504 382 403 389 South Korea 502 425 387 353 Taiwan 331 285 168 183 U Arab Em 546 555 308 700 Oceania 787 745 1,088 629 Australia 550 566 738 453 New Zealand 129 116 115 170 Africa 1,064 656 538 811 Egypt 290 7 49 7 Ghana 46 8 12 41 Ivory Coast 146 79 14 74 Nigeria 126 146 70 215 South Africa 164 71 90 173 World 2/ 135,270 112,254 115,562 105,019 ---------------------------------------------------------------------- 1/ Raw fiber equivalent. 2/ Totals may not add due to rounding. ACTUAL AND PROJECTED COTTON ACREAGE ------------------------------------------------------------------- State/ Actual Actual Projected Region 1995 1996 1997 1/ 1997/1996 ------------------------------------------------------------------- 1,000 acres Percent Upland: Alabama 590 540 550 102 Florida 110 100 95 95 Georgia 1,500 1,350 1,400 104 N. Carolina 805 721 700 97 S. Carolina 348 284 300 106 Virginia 107 103 105 102 Southeast 3,460 3,098 3,150 102 Arkansas 1,170 1,000 970 97 Louisiana 1,085 890 670 75 Mississippi 1,460 1,120 1,100 98 Missouri 462 390 420 108 Tennessee 700 540 540 100 Delta 4,877 3,940 3,700 94 Kansas 4 5 13 278 Oklahoma 380 290 180 62 Texas 6,400 5,700 5,900 104 Southwest 6,784 5,995 6,093 102 Arizona 365 315 335 106 California 1,170 1,000 900 90 New Mexico 61 60 62 103 West 1,596 1,375 1,297 94 Total Upland 16,717 14,408 14,240 99 Pima: Arizona 49 42 24 57 California 115 165 175 106 New Mexico 15 14 14 100 Texas 36 37 32 86 Total Pima 215 258 245 95 Total All 16,931 14,666 14,485 99 ------------------------------------------------------------------- 1/ Planting intentions as indicated by reports from farmers. END_OF_FILE