Wednesday, June 29, 2011

Historic Drought Causes $3 Billion Loss In Texas

(CBS News) 
CRAWFORD, Texas - It looks like harvest time in Texas, but for fourth-generation farmer Bert Gohlke it's actually a financial disaster.
"It hurts, it hurts bad, it hurts real bad," Gohlke tells CBS News correspondent Don Teague.
This could have been a great year for Gohlke - corn prices are near record highs. But instead of harvesting his 1,500 acres of corn, Gohlke is chopping it up into a feed called silage - the only salvageable use for a crop destroyed by drought.
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