Today's NCDEX Tip's

The US Department of Agriculture (USDA) revised global cotton ending stocks for 2011-12 upward at 57.66 million bales in its December report from 54.95 million bales estimated in November on higher opening stocks and lower consumption.

USDA forecasted opening stocks of 45.49 million bales, production of 123.42 million bales compared to 123.88 million bales, consumption of 111.34 million bales versus 114.27 million bales, exports of 36.56 million bales compared to 36.32 million bales and ending stocks of 57.66 million bales versus 54.95 million bales in November.

USDA revised production estimates of US downward by 437,000 bales, while output of rest of the major producers likely to remain unchange.

Mill Consumption estimates of most of the big consuming countries revised downward.

World Cotton Supply and Use in million bales (480 pound bales)

2011/12 Proj.		Beginning Stocks	Production	Imports	Domestic Use	Exports	Ending Stocks
World	Nov	45.22	123.89	36.31	114.27	36.33	54.96
	Dec	45.49	123.42	36.55	111.34	36.57	57.67
United States	Nov	2.6	16.3	0.01	3.8	11.3	3.8
	Dec	2.6	15.83	0.01	3.6	11.3	3.5
Australia	Nov	2.55	5	3/	0.04	4.2	3.46
	Dec	2.55	5	3/	0.04	4	3.66
Brazil	Nov	7.81	9	0.1	4.4	3.8	8.86
	Dec	7.91	9	0.1	4.3	3.8	9.06
India	Nov	6.25	27.5	0.45	20.5	5.25	8.45
	Dec	6.15	27.5	0.45	19.5	6	8.6
		filler	filler	filler	filler	filler	filler
Mexico	Nov	0.46	1.15	1.05	1.75	0.25	0.64
	Dec	0.46	1.15	1.05	1.7	0.25	0.69
China	Nov	11.6	33.5	14	45.5	0.05	13.55
	Dec	11.6	33.5	15.5	45	0.05	15.55
EU-27	Nov	0.52	1.6	0.98	1.05	1.29	0.71
	Dec	0.53	1.6	0.97	1.02	1.29	0.74
Turkey	Nov	1.71	3.1	3.1	5.8	0.18	2.02
	Dec	1.71	3.1	2.5	5.3	0.18	1.92
Pakistan	Nov	2.56	10	1.5	10.3	0.45	3.28
	Dec	2.81	10	1.4	10.3	0.45	3.43
Indonesia	Nov	0.44	0.03	2.25	2.2	0.02	0.45
	Dec	0.44	0.03	2.05	2	0.02	0.45
Thailand	Nov	0.32	3/	1.7	1.65	0	0.35
	Dec	0.32	3/	1.63	1.6	0	0.32
Bangladesh	Nov	0.99	0.07	3.5	3.6	0	0.95
	Dec	0.99	0.07	3.28	3.45	0	0.87
Vietnam	Nov	0.38	0.02	1.6	1.65	0	0.35
	Dec	0.38	0.02	1.55	1.6	0	0.35