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US cotton acreage up two per cent

US cotton acreage in 2019 is expected to be 2.9 per cent more than in 201. Overall abandonment is projected to be lower in 2019 because most regions currently have adequate moisture levels. Abandonment is assumed at approximately ten per cent for the United States.

A modest increase in US mill use of cotton is expected in the 2019 crop year. As the single largest user of US cotton, US mills continue to be critically important to the health of the cotton industry. In the face of rising textile imports from Asian suppliers, the US textile industry has focused on new investment and technology adoption in order to remain competitive.

Trade tensions and increased competition from other major exporting countries have led to a decline in the US trade share. Despite the decline, the US will remain the largest exporter of cotton in 2018. US exports are projected to reach 15 million bales in the 2018 marketing year.

A key factor affecting the US cotton industry is the ongoing US-China trade dispute and the 25 per cent tariff on US cotton imported into China. With the imposition of 25 per cent tariff, China has turned to other suppliers, allowing Brazil, Australia, and other countries to gain market share.