With China scaling back on its imports of cotton, world prices “dipped below 70 cents in early October, a level not seen in five years,” said USDA, forecasting a 6 percent cent increase in global cotton stocks this marketing year. Low market prices will trigger government supports in major cotton countries, such as India, Pakistan, Brazil and the United States. India and Pakistan guarantee a minimum price to their growers, effectively a price floor that could reduce exports, says USDA in its Cotton: World Markets and Tradereport. It forecasts a season-average price for U.S. cotton of 60 cents a pound, down 4 cents from its forecast a month ago and a sharp drop from the farm-gate price of 77.9 cents for the 2014 crop.