United States: January WASDE Tightens Cotton Supply, Lifts Price Outlook

Global cotton output is cut to 119.43 mn bales, while consumption rises to 118.92 mn bales, versus 119.79 mn and 118.61 mn bales estimated in December 2025.

China’s crop is raised by 1.0 mn bales, but cuts in India, the US, Argentina and Turkiye reduce net global production by over 0.35 mn bales.

Global consumption increases by 0.3 mn bales, with imports edging up to 43.76 mn bales from 43.73 mn bales last month.

World ending stocks fall to 74.48 mn bales from 75.97 mn bales, pushing the stocks-to-use ratio below 63%.

US cotton output drops to 13.9 mn bales, ending stocks fall to 4.2 mn bales, yield slips to 856 lb/acre, and the farm price rises to 61 cents/lb.