USDA’s December Crop Production report forecasts 2025-2026 U.S. cotton production at nearly 14.3 million bales, 153,000 bales, or 1.1 percent above last month’s forecast. However, that’s 140,000 bales below the 2024-2025 crop. Harvested area in 2025-2026 is estimated at 7.4 million acres, which is lower than last season’s 7.8 million acres. The USDA data also showed global cotton projections for 2025-2026 (August-July) indicate that global ending stocks are forecast to rise 1.4 million bales, or two percent, from the previous year to 76 million bales. The increase is a result of global production remaining above mill use for the second consecutive year. China remains the largest holder of global stocks, accounting for 46 percent of the global total in 2025-2026. World cotton production is expected to increase slightly from the previous year to 119.8 million bales, with China and Brazil the major contributors to the higher production.