Based on Commerce Department estimates from August 1, 2007 through March 1, 2008, projected total pounds of cotton consumed during the crop year of 2007-08 2.3 billion pounds of cotton or 4.74 million bales. USDA’s latest estimate of mill use for the 2007-08 crop year is 4.6 million bales.
Total export commitments through the week ending March 27 were roughly 11.7 million bales, 1.8 million bales higher than total sales for the same time period in the 2006-07 marketing year. Through March 27, shipments were 8.2 million bales, an increase of approximately 38 percent from the same point in the 2006-07 marketing year. Outstanding commitments as of March 27 were slightly over 3.4 million bales, down from 3.9 million bales the previous year.