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Cotton Economic Update National Cotton Council Mid-Year Board Meeting Amelia Island, Florida August 24-26, 2009 National Cotton Council Mid-Year Board.

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Presentation on theme: "Cotton Economic Update National Cotton Council Mid-Year Board Meeting Amelia Island, Florida August 24-26, 2009 National Cotton Council Mid-Year Board."— Presentation transcript:

1 Cotton Economic Update National Cotton Council Mid-Year Board Meeting Amelia Island, Florida August 24-26, 2009 National Cotton Council Mid-Year Board Meeting Amelia Island, Florida August 24-26, 2009

2 Has the Economy Bottomed? Fed Chairman Bernanke thinks so – After contracting sharply over the past year, economic activity appears to be leveling out, …,and the prospects for a return to growth in the near term appear good. –the economic recovery is likely to be relatively slow at first... Fed Chairman Bernanke thinks so – After contracting sharply over the past year, economic activity appears to be leveling out, …,and the prospects for a return to growth in the near term appear good. –the economic recovery is likely to be relatively slow at first...

3 % Change in Real GDP 3 rd Q?

4 Cotton & Textile Demand

5 Textile Trade Declined thru May (Totals as reported by Global Trade Atlas)

6 US Cotton Domestic Consumption

7 More Modest Drop in US Spending for Clothing & Shoes

8 US Cotton Mill Use

9 International Markets

10 Update on Key Countries W Africa – Lower production & exports Brazil – Some quality concerns with current harvest; expected shift to soybeans Central Asia – Smaller crops due to reduced area Pakistan – No widespread concerns on production; new support to textile industry & some improvements in spinning margins W Africa – Lower production & exports Brazil – Some quality concerns with current harvest; expected shift to soybeans Central Asia – Smaller crops due to reduced area Pakistan – No widespread concerns on production; new support to textile industry & some improvements in spinning margins

11 China Cotton Supply & Use

12 China Cotton Price vs. A Index

13 Indias Min Support Price

14 India Cotton Supply & Use

15 Cotton Exports

16 US Production

17 09 Cotton 9.05 Million

18 US Acres & Relative Prices

19 US Cotton Production

20 Cotton Crop Conditions

21 US Supply & Demand 2009/10 Beg Stocks Production Total Supply Mill Use Exports Ending Stocks

22 Cotton Prices

23 Summary

24 Recovery in Mill Use?

25 Drawdown in World Stocks?

26 Have US Acres Bottomed? 10 ratios based on current Dec & Nov 10 futures contracts

27 Merchants Ginners Cottonseed Producers Cooperatives Warehouses Manufacturers


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