For the past months the textile industry has been rocked by skyrocketing prices for cotton. Bloomberg News reported that cotton futures in New York have surged 71% this year as the global supply struggled to meet demand, resulting in a record high for cotton prices last week. The problem has been felt accutely by American textile mills as the cost of cotton yarn has forced them to pass some of that cost onto fabric retailers. Retailers have also felt obligated to raise the prices at which they sell the mills’ fabrics. Ultimately, consumers for cotton novelty and dress fabrics have been paying more than ever for the fabrics they need. Even powerful retailers such as Gap, J.C. Penney and Wal-Mart have felt the effects of soaring cotton prices.