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Non-Tech : CRAiLAR Technologies Inc. (OTCBB: CRLRF TSX: CL)

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From: caly	6/15/2011 11:03:44 AM
	of 88

Excerpt from a report by an NBC affiliate in NC... witn.com Reeling from the worst drought in a century, cotton farmers in Texas are on the brink of writing off their withered plants this year and collecting the insurance. "We cannot make this crop with no relief from hot temperatures and the wind," said Gary Evitt, a cotton farmer for over 40 years working on 2,000 acres of irrigated cotton outside Lubbock, Texas, in the heart of the Lone Star State's cotton area. "This is the worst (drought) I have seen." The drought plaguing Texas, the biggest cotton growing state in the U.S., pushed up cotton futures this spring. Futures are hovering near $1.30 a lb, four times what they were in 2010 when cotton was the best performing commodity. Carl Anderson, an influential economist with Texas A&M University, said farmers like Evitt may decide to just let their crop die so they can collect the insurance payments. "They're very close to throwing in the towel on this season," he said. "It's looking very bleak." Any word that farmers will tear out their plants and collect insurance money -- rather than ride out the drought -- could spark a fresh rally in a cotton market that saw a rally to historic highs in 2010. That may put further strain on profits at clothes companies like Levi Strauss & Co and Guess Inc. Some of these firms are already looking for alternatives to cotton, with Naturally Advanced Technologies Inc forging deals to sell its organic fiber to uniform maker Cintas and HanesBrands Inc.

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