cotton update..

The US Agriculture Department's [USDA] has estimated India's cotton exports at 3.8-million bales in the monthly cotton crop production and supply/demand estimates issued Wednesday. By doing so, the USDA has revised its August estimates upwards by 0.2-million bales.
India's cotton production has been raised from 23-million bales to 23.5-million bales, while China's output has been left unchanged at 32.5-million bales.
India's consumption has also been estimated marginally higher from 20-million bales to 20.25-million bales, while that for China has been lowered from 54-million bales to 53.5-million bales.
Global 2007-08 cotton production was raised 1% to 117.18-million bales on larger crops in India, Brazil, Pakistan and the US, the USDA said. World consumption was lowered marginally from 127.78-million bales to 127.75-million bales in August, while global ending stocks were virtually unchanged at 51.56-million bales, from 51.52-million in August.
The USDA lowered its estimate of world exports from 40.5-million bales to 39.6-million in August. China's imports are projected down by one-million bales to 15-million, based on lower consumption and a slower-than-anticipated pace of imports prior to the 2007 harvest, the government said.