When USDA’s National Agricultural Statistics Service (NASS) released their August crop reports Monday, it showed cotton production in the U.S. is now forecast at 22.5 million 480-pound bales, up 23 percent from 2018. Planted area this year, at 13.9 million acres, is up 1 percent from the previous estimate but down 1 percent from last year. USDA Chief Economist, Rob Johansson, discusses the August cotton crop production numbers, and how it’s incorporated into domestic supply and demand and price estimates.
USDA NASS will release their next crop report on September 12th.