COTTON AND WOOL OUTLOOK May 13, 1997 Approved by the World Agricultural Outlook Board ============================================================================== COTTON AND WOOL OUTLOOK is issued electronically 11 months a year (no January issue) by the Economic Research Service, U.S. Department of Agriculture, Washington, DC 20005-4788. No printed copies available. CWS-0497. ============================================================================== Smaller U.S. Crop Projected in 1997/98; Stocks To Rise Slightly The first official USDA forecast based on the Prospective Plantings report projects 1997/98 U.S. cotton production at 18.5 million bales. Planting intentions indicated cotton area at about 14.5 million acres, while assumptions about harvested acreage and yield were made in reaching the production forecast. Projected harvested area is based on 1992-96 average acreage abandonment by State, and the projected yield of 670 pounds per harvested acre is based on 1967-96 State trends weighted by area. If realized, the 1997 U.S. cotton crop would decline 2 percent from the final 1996 production of 18.94 million bales. As of May 11, cotton planting progress was running behind both a year ago and the 5-year average. Only 44 percent of the crop was planted as of May 11, compared with 51 percent for both 1996 and the average. Cool wet weather has caused planting delays this season in numerous States. However, California, Arizona, and Missouri cotton plantings are ahead of their respective 5-year averages. With 1997 acreage planted to cotton expected lower than a year ago, the percentage of the upland area forward contracted is also below 1996. As of May 1, 15 percent of the acreage had been contracted by growers, compared with 16 percent in 1996 and 32 percent in 1995. By region, the Southeast had contracted 26 percent of its acreage; the Delta, 16 percent; the West, 12 percent; and the Southwest, 10 percent. With cotton stocks projected about 4 million bales by the start of 1997/98 and production expected to exceed total demand, stocks may increase next season. In 1997/98, domestic mill use is projected to expand slightly, with the initial forecast at 11 million bales. Meanwhile, U.S. exports are expected to rise for the first time in 4 years as the initial projection of 7.3 million bales is 4 percent above 1996/97. With world cotton trade expected to expand in 1997/98, the United States is likely to benefit, capturing more than a 26-percent share of world trade. Based on these initial U.S. cotton supply and demand projections, stocks would rise 5 percent during 1997/98. Ending stocks on July 31, 1998 are projected at 4.25 million bales, a stocks-to-use ratio of 23 percent. Foreign Cotton Consumption Up in 1997/98; Stocks Down Foreign cotton production in 1997/98 is forecast unchanged from a year earlier, while consumption is forecast to rise, and ending stocks to fall. Production is expected to remain at 69 million bales in 1997/98, while consumption rises 2 million bales to 77.5 million, and ending stocks drop 1.2 million bales to 32.3 million. Production overseas is expected to be steady as lower average prices during the first three-quarters of 1996/97, compared with a year earlier, lead to smaller crops in some countries, while more normal weather patterns in others lead to larger crops. Production is widely expected to decline in China in 1997/98 due to larger supplies and lower world prices, while Uzbekistan is unlikely to see a repetition of 1996/97's extremely cool spring and summer. India's monsoon will be critical to the level of production there. Consumption overseas is expected to rise for the third consecutive year in 1997/98, reflecting the lagged impact of lower world cotton prices during the first three-quarters of 1996/97 and an expanding world economy. Continued robust gains in India are likely, China's consumption could continue the rebound that began in 1996/97, and Russia's consumption has at least stabilized. Consumption worldwide is expected to benefit from a slightly accelerated pace of world economic growth in 1997 and 1998. With foreign consumption outpacing production for the second consecutive year in 1997/98, foreign ending stocks are expected to fall slightly. With consumption up and stocks down, the foreign stocks to use ratio is projected to drop by 2 percentage points to 42 percent, its lowest since 1994/95. U.S. exports are expected to rise slightly in 1997/98, up 300,000 bales to 7.3 million. With U.S. cotton supplies rising faster than foreign supplies, and foreign stocks tightening while U.S. stocks rise, prospects are good for larger U.S. exports compared with a year earlier. Improvement is expected to be particularly notable for the first few months of the 1997/98 marketing year, with exports well above the extraordinarily low levels seen during the first 3 months of 1996/97. Mill Use Estimate Reduced for 1996/97 U.S. cotton mill consumption was lowered slightly this month based on the latest data from the U.S. Commerce Department. March consumption averaged 41,800 statistical bales per day, down from the revised daily use in February of 42,500 bales. On a seasonally adjusted annual rate (SAAR) basis, March mill use fell 200,000 bales from February's rate to 10.5 million bales. The March SAAR was the lowest of the season. Cotton mill consumption during the first 8 months of 1996/97 totaled nearly 7.2 million bales. This compares with 7 million bales a year ago when the season's use equaled 10.6 million bales. With the SAAR for August 1996 through March 1997 averaging 10.8 million bales, this month's USDA estimate for 1996/97 was lowered 100,000 bales to 10.9 million. Cotton Import Quota Suspended On May 8, USDA announced the suspension of the special import (Step 3) quotas which had triggered for 80 consecutive weeks, dating back to October 1995. The Step 3 quota is triggered when the average weekly price quotation for the lowest priced U.S. cotton delivered to Northern Europe exceeds the A Index by 1.25 cents per pound for 10 consecutive weeks. Upland cotton must be imported no later than 180 days from the opening of the quota. Imports of about 765,000 bales were recorded under the 43 quotas which have expired to date. The final date on which upland cotton may be imported under the last of these quotas is December 12, 1997. Cotton Prices Move Lower U.S. cotton prices generally declined in April, however, the average price received by upland producers during the first half of the month was 69.4 cents per pound, equal to the March average. This price was nearly 79 cents a year earlier. The upland spot price for base quality cotton fell 2 cents in April to average 69.1 cents per pound, the lowest since October 1994. Meanwhile, the extra-long staple spot price advanced to nearly $1.17 per pound, however, this is well below the April 1996 price of $1.63. Mill-delivered upland prices averaged 75 cents per pound in April, down 3 cents from March and 17 cents below April 1996. At the same time, polyester staple prices slipped to a reported 68 cents in April, the lowest in nearly 10 years and keeping polyester in a very competitive position with cotton. Meanwhile, new crop cotton prices also declined in April. The December 1997 futures averaged 75.6 cents per pound, compared with a stable 77-cent average for December through March. Cotton's decline, along with attractive prices for several competing crops, may keep cotton area from reaching the Prospective Plantings indication. The first survey of actual acreage planted to cotton will be published in the Acreage report released June 30. Despite Larger Textile Exports, Trade Deficit Increases in 1997 February textile exports, at 291 million pounds (raw-fiber equivalent), increased 9 percent from January and were 15 percent above February 1996. Textile exports were higher for all major fibers and all end-use categories, except home furnishings. Lower cotton and manmade fiber home furnishing exports more than offset slight increases in all other home furnishing shipments. Cotton textile exports, at 125 million pounds, were 8 percent above January and 14 percent above a year ago. Shipments of cotton textiles to North American countries accounted for 81 percent of shipments, compared with 71 percent in February 1996. Mexico, Canada, the Dominican Republic, and Honduras remain the largest buyers of U.S. cotton textiles and apparel. Cotton exports declined to other regions except South America, where shipments were slightly above year-ago levels. Textile imports totaled 682 million pounds, down 4 percent from January, but 21 percent above a year earlier. Overall, imports decreased in all major fibers, except linen, compared with a month earlier. Cotton imports, at 350 million pounds, accounted for 51 percent of total imports in February and were 6 percent below January. However, textile imports during the first 2 months of 1997 were 16 percent above the corresponding period of 1996, and cotton textile imports were up 13 percent. Asian textile producing countries remain the most important source of cotton textile imports, accounting for 53 percent in February 1997. However, North American countries continue to increase market share of cotton textiles, accounting for 36 percent of all cotton shipments compared with 31 percent in February 1996. For all fibers, the textile trade deficit during January and February totaled 836 million pounds, nearly 18 percent above a year earlier. The trade deficit increased for all major fibers. The cumulative cotton trade deficit was 13 percent higher than the first 2 months of 1996. However, cotton's share of the trade deficit declined from 59.8 to 57.4 percent. Larger trade deficits, primarily in linen and manmade fiber textiles, resulted in a decrease in cotton's share of the overall trade deficit. Sheep and Wool Promotion Program Disapproved in Referendum The U.S. Department of Agriculture announced in early April that a proposed national sheep and wool promotion, research, and information program has been disapproved in an industry-wide referendum. USDA held a second referendum last October because the results of an earlier referendum were invalidated due to inconsistent application of voting procedures. Of the 11,880 valid ballots cast, 5,603 (47 percent) favored and 6,277 (53 percent) opposed implementation of the Sheep and Wool Promotion, Research, Education, and Information Order. Of persons voting in the referendum who cast a valid ballot, those who favored the order accounted for 33 percent of the total production voted and those who opposed it accounted for 67 percent of the production voted. The Sheep Promotion, Research, and Information Act of 1994, that would have authorized the program, provides that the order may be approved by either a simple majority of producers, feeders, and importers voting in the referendum or by those persons voting in the referendum who account for at least two-thirds of the production represented. Based on the results of the referendum, the order and previously published regulations associated with the implementation of the program will be terminated on a date to be announced by USDA. HIGHLIGHT: Export Commitments, Shipments, and "Rollover" in 1996/97 USDA's forecast for 1996/97 U.S. exports is 7.0 million bales, reflecting assumptions about shipments of cotton as well as cotton sales. During the first half of the 1990's, export "rollover"--the volume of cotton committed to export for a given marketing year, but neither shipped nor canceled by July 31--varied between 340,000 bales (1990) and 1.1 million bales (1994), according to Exports Sales. The amount of cotton "rolled over" into the next marketing year is highly variable, and as forecasts of commitments become more precise towards the end of the year, differences in export forecasts often hinge on the forecasted split between export shipments and rollover. Rollover volume hit lows during the transition years before the 1985 and 1990 farm legislation took effect, reaching 190,000 bales in 1985/86 and 340,000 bales in 1990/91. Expected changes in loan rates and marketing loan programs created incentives to delay export sales until the following year, which was reflected in low levels of commitments, exports, and rollover. Generally speaking, rollover has been higher when commitments are higher, and both the highest (1994) and lowest (1985) rollover years since 1978 were also the years of highest and lowest exports. Adjusting rollover by commitments yields a striking correlation: the rollover share of commitments during the 1990's has been highly correlated (88 percent) with the U.S. share of world ending stocks (excluding China). The same simple correlation works for both the 1990's and the late 1970's, but grossly over estimates the rollover share of commitments during the 1980's. Adjusting by accounting for the extraordinarily high real interest rates of the 1980's yields a relationship that holds for much of the last 20 years. During 1995/96, the rollover share of commitments totaled 8.3 percent. Neither real interest rates nor U.S. farm policy are likely to shift the rollover share of commitments in 1996/97, since changes in each compared with the year before are slight compared with shifts in earlier years. However, the U.S. share of world (excluding China) ending stocks in 1996/97 is forecast higher than in 1995/96, 19 percent compared with 12 percent. This suggests a higher rollover share in 1996/97. Similarly, a larger share of sales and shipment activity is occurring later in the marketing year than was the case in 1995/96, something also associated with a higher rollover share. USDA's current export forecast of 7.0 million bales is consistent with a rollover volume of slightly more than 600,000 bales if the share stays at 8.3 percent. If the share rises to 9.3 percent, then rollover volume reaching about 700,000 bales would be necessary with exports of 7.0 million, and if the share reaches 10.3 percent then implied rollover volume reaches 750,000-800,000 bales. A combination of exports and rollover at these higher levels implies a strong pace of commitments through the rest of the marketing year. * * * The next Cotton and Wool Outlook (CWS-0597) will be released on June 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 Mar Apr May ---------------------------------------------------------------------- Upland: Million acres Planted 16.72 14.41 14.41 14.38 Harvested 15.80 12.58 12.58 12.61 Pounds Yield/harvested acre 533 703 703 701 Million 480-lb. bales Beginning stocks 2.59 2.54 2.54 2.54 Production 17.53 18.42 18.42 18.41 Total supply 1/ 20.52 21.36 21.36 21.36 Mill use 10.54 10.89 10.89 10.79 Exports 7.38 6.37 6.55 6.55 Total use 17.91 17.26 17.44 17.34 Ending stocks 2.54 4.09 3.91 4.01 Percent Stocks-to-use ratio 14.2 23.7 22.4 23.1 Extra-long staple: 1,000 acres Planted 215 258 258 258 Harvested 211 256 256 256 Pounds Yield/harvested acre 836 998 998 991 1,000 480-lb. bales Beginning stocks 62 66 66 66 Production 368 533 533 529 Total supply 1/ 438 604 604 600 Mill use 109 110 110 110 Exports 300 435 450 450 Total use 409 545 560 560 Ending stocks 66 59 44 40 Percent Stocks-to-use ratio 16.1 10.8 7.9 7.1 ---------------------------------------------------------------------- Based on USDA estimates. 1/ Includes imports. WORLD COTTON SUPPLY AND USE ESTIMATES ---------------------------------------------------------------------- 1996/97 ------------------------------ Item 1995/96 Mar Apr May ---------------------------------------------------------------------- Supply: Million 480-lb. bales Beginning stocks World 28.98 35.62 35.68 35.42 Foreign 26.33 33.01 33.07 32.81 Production World 92.17 86.34 88.12 87.95 Foreign 74.27 67.39 69.17 69.00 Imports World 27.32 27.57 27.57 27.54 Foreign 26.91 27.17 27.17 27.13 Use: Mill use World 85.44 86.22 86.55 86.44 Foreign 74.80 75.22 75.55 75.54 Exports World 27.36 27.11 26.77 26.73 Foreign 19.68 20.31 19.77 19.73 Ending stocks World 35.42 36.00 37.85 37.54 Foreign 32.81 31.85 33.90 33.49 Stocks-to-use ratio Percent World 41.5 41.8 43.7 43.4 Foreign 43.9 42.3 44.9 44.3 --------------------------------------------------------------------- Based on USDA estimates. FIBER SUPPLY ---------------------------------------------------------------------- 1997 1996 --------------------------- Item Jan Feb Mar Mar ---------------------------------------------------------------------- Cotton: 1,000 480-lb. bales Ginnings 651 190 0 0 Imports since August 1 396.0 399.1 NA 28.3 Stocks, beginning 14,472 13,482 12,097 8,944 At mills 577 658 683 650 Public storage 11,652 10,806 9,397 6,916 CCC stocks 2,497 2,500 2,231 1,899 Manmade: Million pounds Production 906.1 798.9 850.8 804.4 Noncellulosic 863.4 749.0 805.0 762.5 Cellulosic 42.7 49.9 45.8 41.9 Total since January 1 906.1 1,705.0 2,555.8 2,363.3 1996 1997 1996 --------------- Dec Jan Feb Feb ---------------------------------------------------------------------- Million pounds Raw fiber imports 105.3 123.0 105.4 80.5 Noncellulosic 98.2 114.0 97.9 75.3 Cellulosic 7.1 9.0 7.5 5.2 Total since January 1 1,164.3 123.0 228.4 163.7 Wool and Mohair: 1,000 pounds Raw wool imports, clean 5,112 9,701 5,767 9,114 48's-and-finer 3,497 7,203 2,144 5,891 Not-finer-than-46's 1,615 2,498 3,623 3,223 Total since January 1 75,370 9,701 15,469 18,737 Wool top imports 163 73 79 170 Total since January 1 3,597 73 152 799 Mohair imports, clean 0 0 9 1 Total since January 1 43 0 9 3 ---------------------------------------------------------------------- NA = Not available. COTTON SYSTEM FIBER CONSUMPTION ---------------------------------------------------------------------- 1997 1996 --------------------------- Item Jan Feb Mar Mar ---------------------------------------------------------------------- Cotton: 1,000 480-lb. bales All consumed by mills 1/ 976 850 877 911 Total since August 1 1/ 5,442 6,292 7,169 6,998 SA annual rate 2/ 10,946 10,744 10,521 10,829 SA daily rate 2/ 41.9 41.2 40.3 41.3 Daily rate 42.4 42.5 41.8 43.4 Upland consumed by mills 1/ 966 841 867 901 Total since August 1 1/ 5,391 6,232 7,099 6,926 SA annual rate 2/ 10,844 10,639 10,400 10,711 SA daily rate 2/ 41.5 40.8 39.8 40.9 Daily rate 42.0 42.1 41.3 42.9 Spindles in place 5,779 5,774 5,769 6,417 Active spindles 5,441 5,431 5,443 5,947 100 percent cotton 2,587 2,583 2,584 2,677 100 percent manmade 934 939 934 1,039 Blends 1,920 1,909 1,925 2,231 Percent Cotton's share of fibers 77.5 77.0 78.0 78.2 Manmade: 1,000 pounds Total consumed by mills 1/ 135,721 121,949 119,014 121,817 Total since August 1 1/ 745,263 867,212 986,226 933,268 Daily rate 5,900 6,097 5,667 5,801 Noncellulosic staple 5,393 5,412 5,016 4,876 Cellulosic staple 507 685 651 925 ---------------------------------------------------------------------- 1/ Adjusted to calendar month. 2/ SA = seasonally adjusted. FIBER EXPORTS ---------------------------------------------------------------------- 1996 1997 1996 ----------------- Item Dec Jan Feb Feb ---------------------------------------------------------------------- Cotton: 1,000 480-lb. bales Upland exports 838 587 673 1,257 Total since August 1 2,027 2,614 3,287 5,342 Sales for next season 14 76 99 28 Total since August 1 119 196 295 281 ELS exports 60.9 78.4 55.8 37.9 Total since August 1 149.1 227.5 283.3 190.3 Sales for next season 8.1 1.4 4.7 18.4 Total since August 1 17.1 18.5 23.1 113.9 Manmade: Million pounds Raw fiber exports 114.6 103.9 93.0 96.7 Noncellulosic 104.7 95.0 85.1 92.8 Cellulosic 9.9 8.9 7.9 3.9 Total since January 1 1,155.5 103.9 196.9 171.9 Wool and Mohair: 1,000 pounds Raw wool exports, clean 295.8 300.1 139.9 183.4 Total since January 1 5,715.3 300.1 440.0 519.9 Wool top exports 795.7 445.1 522.3 1,147.9 Total since January 1 12,118.9 445.1 967.4 1,970.1 Mohair exports, clean 0 0 222.8 206.8 Total since January 1 3,539.2 0 222.8 1,443.6 ---------------------------------------------------------------------- FIBER PRICES ---------------------------------------------------------------------- 1997 1996 -------------------------- Item Feb Mar Apr Apr ---------------------------------------------------------------------- Domestic cotton prices: Cents per pound Adjusted World Price 65.96 66.24 64.68 68.53 May'97 futures 75.39 74.78 71.66 82.46 Dec'97 futures 76.82 76.93 75.64 78.27 Upland spot 41-34 70.53 71.12 69.09 84.69 Pima spot 03-46 113.50 116.20 116.50 163.46 Avg. price received by: Upland producers 68.20 69.40 69.40 78.90 Mill delivered: Cotton Actual 77.68 77.95 75.18 92.10 Raw fiber equivalent 86.31 86.61 83.53 102.33 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 68.00 84.00 Raw fiber equivalent 72.92 72.92 70.83 87.50 Price ratios Percent Cotton/rayon 72.1 72.3 69.7 81.9 Cotton/polyester 118.4 118.8 117.9 117.0 Northern Europe cotton quotes: Cents per pound A Index 80.45 80.26 78.85 82.90 Memphis Territory 82.50 82.63 80.50 96.69 California/Arizona 83.88 84.63 82.13 100.13 B Index 74.34 74.55 73.19 77.53 Orleans/Texas 77.94 78.25 76.25 91.06 Wool prices (clean): Dollars per pound U.S. 56's 1.30 1.27 1.34 1.35 Australian 56's 1/ 1.87 1.96 1.95 1.83 U.S. 60's 1.52 1.64 1.80 1.57 Australian 60's 1/ 1.95 2.04 2.02 1.97 U.S. 64's 1.90 2.08 2.28 1.97 Australian 64's 1/ 2.41 2.54 2.61 2.34 ---------------------------------------------------------------------- NQ = No quotes. 1/ In bond, Charleston, SC. TEXTILE TRADE ---------------------------------------------------------------------- 1996 1997 1996 ---------------- Item Dec Jan Feb Feb ---------------------------------------------------------------------- Imports: 1,000 pounds 1/ Yarn, thread, and fabric 177,415 212,037 207,523 139,967 Cotton 77,459 86,624 72,335 61,012 Linen 20,811 32,938 46,138 22,606 Wool 3,224 3,610 3,584 3,000 Silk 772 750 692 556 Manmade 75,149 88,110 84,773 52,792 Apparel 392,029 432,746 413,651 372,675 Cotton 231,237 251,160 246,315 221,484 Linen 10,477 12,596 10,535 9,925 Wool 11,076 11,913 11,348 11,058 Silk 10,091 14,100 11,677 9,888 Manmade 129,148 142,976 133,777 120,320 House furnishings 30,877 33,451 31,746 27,596 Cotton 21,480 24,876 23,453 20,749 Linen 223 127 95 178 Wool 139 83 66 99 Silk 25 63 12 29 Manmade 9,009 8,302 8,120 6,541 Floor covering 23,175 24,426 23,108 15,041 Cotton 4,067 4,218 4,277 3,518 Linen 2,785 3,378 2,644 2,228 Wool 7,117 6,749 5,730 3,791 Silk 402 355 434 335 Manmade 8,804 9,726 10,023 5,169 Total imports 2/ 630,080 710,470 682,203 562,291 Cotton 337,909 370,834 349,750 310,967 Linen 34,324 49,061 59,440 34,957 Wool 21,640 22,454 20,771 17,983 Silk 11,291 15,269 12,814 10,812 Manmade 224,916 252,853 239,428 187,571 Exports: 1,000 pounds 1/ Yarn, thread, and fabric 110,126 114,594 119,966 116,595 Cotton 37,416 36,156 35,447 41,978 Linen 3,196 3,137 3,520 3,321 Wool 3,235 3,661 3,557 2,777 Silk 1,229 1,532 1,649 1,314 Manmade 65,050 70,108 75,792 67,205 Apparel 112,896 116,152 135,412 104,565 Cotton 68,667 72,975 83,319 62,252 Linen 2,078 2,054 2,060 2,117 Wool 5,771 4,380 5,954 4,597 Silk 2,045 1,408 2,125 1,757 Manmade 34,336 35,334 41,954 33,842 House furnishings 5,764 5,472 5,315 5,327 Cotton 3,347 3,439 3,130 3,172 Linen 268 179 293 270 Wool 95 49 74 105 Silk 162 134 210 151 Manmade 1,893 1,671 1,607 1,629 Floor covering 26,683 29,529 30,014 25,649 Cotton 2,779 2,959 3,154 2,754 Linen 1,091 1,276 1,419 1,072 Wool 1,213 1,541 1,467 1,793 Silk 3/ --- --- --- --- Manmade 21,600 23,753 23,975 20,030 Total exports 2/ 255,777 266,107 291,037 252,615 Cotton 112,254 115,562 125,093 110,214 Linen 6,642 6,653 7,302 6,793 Wool 10,330 9,642 11,067 9,296 Silk 3,435 3,074 7,058 3,222 Manmade 123,115 131,175 143,592 123,090 ---------------------------------------------------------------------- 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 Dec Jan Feb Feb ---------------------------------------------------------------------- 1,000 pounds 1/ North America 118,421 101,737 127,646 96,841 Canada 8,173 9,479 9,789 7,278 Costa Rica 7,288 5,710 7,651 6,518 Dominican Republic 12,996 8,017 13,823 10,997 El Salvador 9,637 8,864 10,032 7,541 Guatemala 6,858 5,279 7,223 5,773 Haiti 1,150 698 1,110 608 Honduras 17,931 12,800 17,844 12,648 Jamaica 7,319 4,840 6,157 6,876 Mexico 44,898 43,827 51,214 36,483 Nicaragua 1,674 1,817 2,437 1,408 South America 8,509 6,636 6,881 8,804 Argentina 7 5 13 128 Brazil 3,375 2,431 2,358 4,048 Chile 257 317 192 638 Columbia 2,836 1,731 2,352 2,222 Peru 1,745 1,907 1,639 1,364 Europe 21,241 22,639 19,258 18,744 Estonia 925 848 625 583 France 639 684 605 532 Germany 728 393 391 452 Italy 3,245 3,035 3,139 2,749 Portugal 1,713 882 765 1,054 Russia 1,129 801 856 1,058 Spain 967 1,495 1,154 1,289 Turkey 7,895 10,367 8,179 7,273 United Kingdom 946 916 862 866 Asia 179,742 226,602 185,076 177,032 Bahrain 779 962 778 908 Bangladesh 9,821 15,332 14,364 15,159 China 26,677 40,704 28,548 21,772 Hong Kong 25,046 31,527 18,747 23,180 India 26,911 28,569 29,679 23,693 Indonesia 11,646 15,713 12,021 10,604 Israel 2,031 2,208 1,851 2,343 Japan 1,104 1,331 1,190 1,054 Macao 3,774 5,273 3,877 3,225 Malaysia 3,880 5,130 3,355 5,120 Nepal 850 1,315 1,440 1,467 Oman 1,663 1,725 1,468 1,529 Pakistan 18,473 21,299 24,606 21,009 Philippines 7,789 9,290 7,380 8,746 Quator 1,228 1,383 1,220 989 Singapore 1,518 2,416 1,630 1,897 South Korea 5,604 6,353 4,190 4,490 Sri Lanka 7,049 8,776 6,543 6,599 Taiwan 10,954 10,863 10,493 10,250 Thailand 8,578 11,085 7,133 7,316 U Arab 0m 2,001 2,701 2,297 2,989 Oceania 1,025 1,035 701 1,784 Australia 347 253 267 897 Fiji 483 532 303 591 Africa 7,997 11,076 8,852 8,789 Egypt 3,718 5,462 4,452 4,507 Lesotho 1,140 1,706 1,044 1,103 Mauritius 1,043 1,106 1,265 1,340 Morocco 609 624 456 383 South Africa 801 765 607 236 Tunisia 104 120 170 116 World 2/ 337,909 370,834 349,750 310,976 ---------------------------------------------------------------------- 1/ Raw fiber equivalent. 2/ Totals may not add due to rounding. U.S. COTTON TEXTILE EXPORTS ---------------------------------------------------------------------- 1996 1997 1996 -------------------- Country Dec Jan Feb Feb ---------------------------------------------------------------------- 1,000 pounds 1/ North America 86,096 92,946 100,942 78,715 Canada 15,186 20,022 18,610 16,733 Costa Rica 5,829 6,767 8,385 5,028 Dominican Republic 9,115 10,107 13,478 8,973 El Salvador 2,990 3,013 3,198 2,231 Guatemala 4,349 4,427 4,172 3,453 Haiti 823 737 1,399 639 Honduras 12,614 13,523 13,465 8,799 Jamaica 6,018 6,576 5,543 6,472 Mexico 28,041 26,734 31,405 45,448 South America 3,833 3,824 4,252 4,140 Argentina 173 298 112 240 Brazil 671 524 1,028 349 Chile 480 640 367 864 Columbia 1,507 1,210 1,254 1,540 Peru 205 88 157 164 Venezuela 306 779 920 494 Europe 9,395 6,856 7,727 12,655 Belgium 2,126 1,051 824 4,317 France 685 523 696 545 Germany 967 854 1,185 910 Ireland 81 70 138 1,019 Italy 247 141 208 561 Netherlands 520 624 581 742 United Kingdom 3,018 1,986 2,270 2,809 Asia 11,335 10,171 10,877 12,792 China 243 91 57 112 Hong Kong 1,260 1,020 838 933 Israel 1,834 1,610 1,005 1,202 Japan 4,538 4,309 5,990 6,782 Philippines 310 190 306 219 Saudi Arabia 594 702 421 627 Singapore 382 403 338 441 South Korea 425 387 450 409 Taiwan 285 168 289 253 U Arab Em 555 308 250 412 Oceania 745 1,088 754 1,014 Australia 566 738 519 709 New Zealand 116 115 150 278 Africa 656 538 385 701 Egypt 7 49 4 1 Ghana 8 12 22 22 Ivory Coast 79 14 82 57 Nigeria 146 70 41 209 South Africa 71 90 133 166 World 2/ 112,254 115,562 125,093 110,214 ---------------------------------------------------------------------- 1/ Raw fiber equivalent. 2/ Totals may not add due to rounding. FINAL 1996 U.S. COTTON AREA, YIELD, AND PRODUCTION ------------------------------------------------------------------- State/Region Planted Harvested Yield Production ------------------------------------------------------------------- 1,000 acres Pounds 1,000 bales Upland: AL 520 516 734 789 FL 99 98 637 130 GA 1,340 1,336 747 2,079 NC 721 710 677 1,002 SC 284 282 774 455 VA 103 102 748 159 Southeast 3,067 3,044 728 4,614 AR 1,000 990 793 1,636 LA 890 885 697 1,286 MS 1,120 1,100 819 1,876 MO 390 385 737 591 TN 540 530 611 675 Delta 3,940 3,890 748 6,064 KS 5 4 492 4 OK 290 210 306 134 TX 5,700 4,100 509 4,345 Southwest 5,995 4,314 499 4,483 AZ 315 314 1,189 778 CA 1,000 995 1,153 2,390 NM 59 55 733 84 West 1,374 1,364 1,144 3,252 Total Upland 14,376 12,612 701 18,413 Pima: AZ 42 42 852 74 CA 165 164 1,098 375 NM 14 14 651 19 TX 37 36 801 60 Total Pima 258 256 991 529 Total All 14,634 12,868 707 18,942 ------------------------------------------------------------------- END_OF_FILE