December 11, 2012 / 1:55 PM / 5 years ago

USDA cuts cotton stock estimate on technical adjustment

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.

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