USDA – Cotton: World Markets and Trade, May 2025

The main theme of the report is global cotton markets and trade.

Key findings include a forecasted increase in global cotton consumption in the 2025/26 marketing year to 118.1 million bales, marking the highest level in the past five years. Abundant cotton stocks are expected to limit significant futures price increases and support demand. Consumption will grow for the third consecutive year but will remain below trend growth due to competition from synthetic fibers and economic uncertainty. Steady replenishment of stocks along the cotton supply chain is a key factor supporting stable consumption in 2025/26.