Discussion
The red line shows actual weekly exports through the past week of the 2008/09 marketing year (converted from running bales into 480 lb. statistical bales). The blue line
shows the level of exports of all U.S. cotton (i.e., upland
and pima) required to meet the USDA August projection of 15 million
statistical bales by July 31, 2009. U.S. export sales for the week ending September 25 for U.S. upland and pima combined were 111,900
total running bales. (Note: a 480 lb. "statistical bale" is about 97.5% of a physical "running bale"). Total export shipments of upland and pima, which lags net sales, were 235,200 running bales (or 244,600 statistical bales) which is below the level needed to reach the level of demand currently projected by USDA, i.e., the blue line above.
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