SleepTech July - August 2018

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For milluse, notable changes were for Vietnam
(+100,000, from 6.5 to 6.6 million), Indonesia
(-100,000, from 3.5 to 3.4 million), and India
(- 300,000, from 24.5 to 24.2 million). Global
trade estimates increased slightly (+225,000
bales, from 38.8 to 39.1 million). The largest
changes to import figures included those for
Pakistan (+200,000, from 2.7 to 2.9 million),
Mexico (+100,000, from 0.9 to 1.0 million),
Vietnam (+100,000, from 6.7 to 6.8 million),
and Indonesia (-100,000 from 3.5 to 3.4
million). The largest changes to export figures
included those for India (+300,000, from 4.2
to 4.5 million), the U.S. (+200,000 bales,
from 14.8 to 15.0 million), and Uzbekistan
(+100,000, from 1.1 to 1.2 million), Australia
(-200,000, from 4.4 to 4.2), and Sudan
(-150,000, from 500,000 to 350,000)
PRICE OUTLOOK
The stream of trade-related announcements
flowing from the U.S. and China adds another
layer of uncertainty to the cotton market. In a
release on April 3rd, the U.S. did not include
any apparel or textile items on the list of Chinese
goods (collectively valued at $50 billion)
that could be hit with increased tariffs. On
April 4th, China included cotton on the list of
U.S. goods (collectively valued at $50 billion)
that it could hit with higher tariffs. The following
day, the U.S. indicated that it is researching
an even larger list of additional goods
(collectively valued at $100 billion) from
China that could also face higher tariffs. The
items on the second U.S. list have yet to be