Record Texas Drought Burns Cotton Farmers as White Gold Withers

The month before cotton reached its highest price ever in March, Brad Heffington bought a 7760 John Deere picker for $500,000 to help get as much “white gold” as he could out of his 6,000 acres in West Texas. Seven months later, the harvester is for sale. The 43-year-old farmer’s crop is wilting; the few plants left are too short for the massive piece of equipment to handle, he says.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.