Introduction Cotton production in the United States fell sharply in 2008/09, but the U. S. remains the world's largest consumer of cotton products at the retail level, and also the world's largest exporter of raw cotton. Over the past decade, exports have accounted for an expanding share of U. S. cotton disappearance, thereby increasing the U. S. 's integration with and dependence on foreign markets. Export dependence raises uncertainty about market prospects, mainly because of the larger number of variables affecting demand, which include weather in foreign cotton producing countries, worldwide demand for textiles and clothing, and policies influencing trade in both producing and consuming countries. For the U. S., as for other countries, the world financial crisis and recession have generated special challenges for the upcoming 2009/10 season. This paper will explore some of the key factors affecting U. S. production, consumption, and exports of cotton in recent years, and will present USDA's projections for 2009/10.
展开▼
