U.S. Capitol analyst forecast: there will be a reduction of cotton exports

The United States may cut exports of cotton forecast, which is due to the decrease in sales in China. U.S. cotton exports in January before the government will be short of the projected sales and shipments lower than the level a year ago, particularly in sales to China, the United States, Georgia First Capitol Group analyst Sha-lun. Johnson 4 9, said.

United States Department of Agriculture forecast tomorrow in the July 31 end of the quarter's cotton exports of cotton 13,700,000 for the package than the March forecast of 14,000,000 packets low 2.2 percent. During the cotton end of the quarter, unsold inventory may reach 9,120,000 bags, last month forecast an increase of 8,800,000 packets, analysts said.

Sha-lun. Johnson said that under the current cotton season, there are only 17 weeks time, but not impossible, but there is a high possibility of their cotton exports will reach 14,000,000 package.

April 5 on the New York Mercantile Exchange for delivery in May cotton fell 0.35 cents, about 0.7 percent, down 52.91 cents / lb, which is on February 21 has been the most active contract closed at the lowest prices.

Since June 12 the past two years to reach the highest price, the price of cotton dropped 10 percent due to lower U.S. exports, particularly to China, the world's largest consumer of cotton exports declined.

According to the U.S. Department of Agriculture, as of March 29, the United States in cotton this season's cotton exports to China dropped by 72 percent, from 4,560,000 in the same period last year, dropped to 1.24 million package package.

The total number of commitments, including spot orders fell 37 percent, to 8,960,000 packets, the United States Department of Agriculture said on April 5. The weight of each bag of cotton to be 480 pounds.