USDA January Production Report

In its January crop report, USDA estimated a 2023-24 U.S. crop of 12.43 million bales. Upland production was estimated at 12.13 million bales and ELS production at 307,000 bales.

Harvested area was an estimated 7.06 million acres, implying a non-harvested area of roughly 3.17 million acres. The resulting abandonment rate is roughly 30.94%. The national average yield per harvested acre was estimated to be roughly 845 pounds, 13 pounds lower than the 5-year average.