WASDE - CottonMar 10, 2010 COTTON: The U.S. cotton estimates for 2009/10 include higher domestic mill use and lower ending stocks this month. Production and exports are unchanged. Domestic mill use is raised 100,000 bales to 3.5 million, reflecting higher consumption in the months of November through January. Ending stocks are forecast at 3.2 million bales, 20.6 percent of total use. The range for the marketing-year average price received by producers is raised 1.5 cents on the lower end and 0.5 cents on the higher end to 60.5 to 65.5 cents per pound. A combination of slightly lower production and slightly higher consumption is reducing forecast world cotton 2009/10 ending stocks from last month. Production is reduced for China and Uzbekistan, but raised for Brazil and Turkmenistan. Consumption estimates are raised for Turkey, Vietnam, and the United States, partially offset by a reduction for Pakistan, which is based on a recent policy change to limit yarn exports. World trade is raised 2 percent, reflecting higher imports by China, Turkey, and Vietnam, which more than offset a decrease for Pakistan. World stocks are reduced nearly 700,000 bales, a decline of just over 1 percent from last month. DISCLAIMER: This information is not to be construed as an offer to sell or a solicitation or an offer to buy the commodities herein named. The factual information of this report has been obtained from sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to the accuracy, and is not to be construed as representation by Commodity & Derivative Adv. The risk of trading futures and options can be substantial. Each investor must consider whether this is a suitable investment. Past performance is not indicative of future results. Read Entire Disclaimer. | 
