According to the average estimate among analysts surveyed by Bloomberg ahead of the US World Agricultural Supply and Demand Estimates report, the 2019-2020 U.S crop will expand to 21.8 million bales from 18.4 million the previous season. In March, the USDA had forecast that cotton acres would decline to 13.8 million for the 2019-2020 season from 14.1 million a year earlier. Still, anecdotal evidence in states including Texas and Oklahoma suggests the fiber cultivation will increase to 14 million acres nationally.
Relatively low prices for competing crops and rainy weather causing planting delays for corn may make the fiber an attractive alternative.
