USDA cuts cotton stock estimate on technical adjustment

NEW YORK Tue Dec 11, 2012 8:54am EST

Related Topics

NEW YORK Dec 11 (Reuters) - The U.S. government has cut its 2012/13 forecast for global cotton inventory as a technical adjustment in Turkey's data offset an increase in output.

The U.S. Department of Agriculture lowered its ending stock estimate to 79.64 million 480-pound bales from 80.27 million in November. The new forecast is still the highest since USDA records began in 1966.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article