USDA cuts cotton output forecast as US, India crops shrink
In short
The USDA said global cotton output will fall after it cut production estimates for India, the US and Turkey in its latest update.
Higher forecasts for China and Australia were not enough to make up for the cuts. That can tighten the cotton supply outlook for the market.
What the reporting says
Global cotton output is set to decline after the USDA lowered production estimates for India, the US and Turkey in its latest assessment. Higher output projections for China and Australia were not enough to offset the cuts.
Why it matters
The USDA’s latest cotton assessment points to lower output in India, the US and Turkey, while China and Australia were revised higher. The net result is a decline in expected global cotton production.