{"id":60065,"date":"2014-09-09T07:50:41","date_gmt":"2014-09-09T11:50:41","guid":{"rendered":"http:\/\/countingpips.com\/?p=60065"},"modified":"2014-09-09T07:57:07","modified_gmt":"2014-09-09T11:57:07","slug":"australian-drought-cuts-cotton-output-forecast","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/09\/australian-drought-cuts-cotton-output-forecast\/","title":{"rendered":"Australian Drought Cuts Cotton Output Forecast"},"content":{"rendered":"
September 9, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Australia said its cotton production could fall by 19%, the world\u2019s third-biggest cotton exporter cut its output forecast to 580,000 metric tons for 2014-2015 from 820,000 tons forecasted in June, according to a report from the Australian Bureau of Agricultural and Resource Economics and Sciences.<\/p>\n

The cut in the country\u2019s output forecast would be the smallest in five years, falling from 890,000 tons seen in the previous year, the bureau added.<\/span><\/p>\n

Cotton futures have fallen by 24% in 2014 as the increasing supply in the US, the largest exporter weighs on prices. The world\u2019s biggest exporter increased its forecast by 36% for 2015. The Australian output my fall as low as 50% as drought in the country could curb planted areas, according to Cotton Australia\u2019s august report.<\/p>\n

Output may fall between 2 million and 2.5 million bales in 2014 \u2013 2015, from approximately 4 million bales this year, Cotton Australia Chief Adam Key said in August.<\/p>\n

\u201cWhat we\u2019ve had over the last couple of years is dam levels sufficient for irrigation,\u201d said Abares Agricultural Commodities manager Peter Collins. \u201cThis year, the dam levels are a bit lower so the supply of irrigation water is not going to be as good as it has been,\u201d he added.<\/p>

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Cotton futures traded around 64.75 cents today on the ICE Futures US as production in the world\u2019s biggest exporter in the 12 months that began Aug 1 will be around 17.5 million bales, according to the US Department of Agriculture.<\/p>\n

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The post Australian Drought Cuts Cotton Output Forecast<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Australia said its cotton production could fall by 19%, the world\u2019s third-biggest cotton exporter cut its output forecast to 580,000 metric tons for 2014-2015 from 820,000 tons forecasted in June, according to a report from the Australian Bureau of Agricultural and Resource Economics and Sciences. The cut in the country\u2019s […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-60065","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/60065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=60065"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/60065\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=60065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=60065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=60065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}