In the past two weeks, U.S. cotton export signings have performed well, but the biggest problem is shipment volume. After all, there are only three months left in this year.
Last year, the carryover inventory of U.S. upland cotton was 2.381 million bales. As of now, there are still 5.7569 million bales of upland cotton waiting to be shipped in 2019/20. Calculated based on this figure, during the rest of the year, U.S. cotton needs to be shipped 64,000 bales per day to complete the task. Last week’s shipment volume reached 373,500 bales, giving hope that U.S. cotton exports can complete the task.
As of now, the number of unshipped U.S. upland cotton in China is 1.4864 million bales, and the rest are Vietnam (954,400 bales), Turkey (641,500 bales), Bangladesh (563,200 bales), and Pakistan (514,600 bales). million bales), Mexico (353,000 bales), Indonesia (286,900 bales), Thailand (119,300 bales), South Korea (124,100 bales), Malaysia (115,200 bales) and India (56,800 bales).
Although the recent signing and shipment of U.S. cotton has been good, last week’s report included a lot of late sales. There were a total of 125,500 bales of upland cotton, and the buyers included Vietnam, Taiwan, and Turkey. , South Korea, Thailand, Indonesia, Pakistan, Japan, Ecuador, Italy, Bangladesh, China, El Salvador and Mexico, including 14 countries and regions. At the same time, there are still 86,500 packages and shipments reported late. U.S. cotton merchants have great flexibility when reporting export data. It is very rare to rush to report data, because data reporting can affect export sales and have an impact on ICE futures.
As of now, U.S. cotton export sales have reached 16.47 million bales (export bales), so new sales are no longer necessary, and the market’s focus is on shipments. To complete the U.S. cotton shipment task, the average weekly U.S. cotton shipment volume needs to reach more than 300,000 bales, and reporting too many sales will only put pressure on U.S. cotton exports to complete the task. </p
