Cotton Imports Expand; Forecast Understated?

According to Chinese Customs, China imported 240,200 tons of cotton in May, down 8.8% from the previous month but up 19.3% from a year ago. Through the first ten months of the marketing year, cumulative cotton imports stand at 2.1 million tons, or almost 9.6 million bales (480 lbs), up 17.0% from the corresponding period last marketing year.