Cotton prices

I'm an avid quilter/seamstress. The other day while at a quilting class, our instructor said the price of cotton fabric was expected to go up to $14 a yard. She said the fabric store is already seeing higher prices coming in on the newer bolts of fabric, at $12 and $13. She said that scrappy quilt patterns are becoming more popular as people try to use up their fabric stash instead of buying more.

I figure if the cotton fabric is going up in price, other cotton items might be headed that way as well, like t-shirts, socks, underwear, etc.
Has anyone else heard anything about this?

I had not heard about it, but it doesn't surprise me with so many of the cotton growing states facing another year of drought.