The USDA’s cotton projections for 2025-2026 indicate a decrease in world cotton ending stocks to 76.8 million bales, slightly below the previous marketing year but the third-highest since 2015-2016. Global cotton production is estimated at 117 million bales, 2.5 percent or 2.9 million bales below last year. Mill use is projected to increase by one percent to 117.8 million bales in 2025-2026, the highest in five years.
Global cotton trade for 2025-2026 is projected to increase by five percent and help support the increase in mill demand expectations. U.S. cotton production for 2025-2026 was lowered by 500,000 bales this month to 14 million bales, nearly three percent below the previous marketing year but approximately 2.5 percent above the 2023-2025 marketing year averages. Upland production is estimated at 13.6 million bales, compared with 13.9 million last year. The extra-long staple crop is estimated at 370,000 bales, compared with 471,000 bales last year.
