New Mexico's Pima yields were increased from 583 pounds reported last month to 608 pounds per acre, which led to an increase of 1,000 bales. In other U.S. Pima marketing news, the USDA lowered its estimate of Pima offtake for this marketing year to 535,000 bales. The World Agriculture Outlook Board dropped estimated U.S. Pima exports from 400,000 bales to 375,000 bales. Projected domestic mill use remained unchanged at 160,000 bales, although the lofty total may be overstated. Domestic mill consumption was down in November and December from the corresponding months a year earlier, after exceeding the previous year's monthly totals for 24 straight months.
Phoenix classes Pima cotton produced in Arizona, Texas and New Mexico.
The overall staple length of the crop is just below last year's level at about a 45.9 average. As growers submit more and more of their current crop Pima into the government loan for protection, many are considering a reduction of Pima acres this spring. Prices have been on the downward slide for better than a year now, and though nearby prospects may bring some stability, an abundant supply of ELS cotton between Egypt and the U.S. may work to keep a lid on any true turnaround for several months. In California, the government exercised its right to change its mind and declared it had indeed been wrong all season, that Pima yields did match upland yields this season after all. But the growers aren't buying it, though they admit the unusually dry fall weather allowed for successful second picks that provided additional Pima lint.