The International Cotton Advisory Committee boosted hopes for better prices, as it cuts its estimates for 2016-17 ending stocks due to lower production. The ICAC lowered its forecast for global cotton stocks by the end of 2016-17 by 20,000 tonnes to 20.4 Mt. This would be a 5% reduction y-o-y,, as cotton use surpasses the production by 930,000 tonnes.
