USDA – Cotton: World Markets and Trade, Jan 2026

This report focuses on the global cotton market, particularly U.

S. cotton exports and trade dynamics for the marketing year 2025/26. U.S. cotton exports are forecast at 12.2 million bales, which is 300,000 bales more than the volume exported in 2024/25. Despite slower sales and export sales lagging 15% behind the previous year, shipments remain above last year's level. Brazil has become the top cotton exporter in 2023/24, dominating the market from October to January before the U.S. supply season begins. Global cotton trade is forecast to increase by 700,000 bales year over year, driven by higher imports from China, Turkey, Egypt, and Vietnam. The U.S. is regaining market share in Vietnam, with export commitments at the highest level in six years for this point in the marketing year. Increased beginning stocks and a projected decline in domestic use offset lower U.S. production, leading to higher exportable supplies.