USDA Forecasts Global Cotton Production In 2014 At 116.4 Million Bales

The U.S. Department of Agriculture (USDA) has released its latest projections for the global cotton crop, forecasting 116.4 million bales in 2014. This is down two percent from its 2013 estimate of 118.3 million bales. Despite the year-to-year decline, production is expected to outpace consumption.

In the U.S., more land turned to cotton production and improved conditions should push the country’s share of the global cotton market to 14 percent in 2014. Looking abroad, the USDA expects Australia and Brazil to also increase production.