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Subscribe to RSSTexas is recording the driest 11 months on record. CNBC's Jane Wells has the details on an estimated $2B in livestock losses for the year.
Texas is going through a record drought, causing some $5 billion in damage to the state's agriculture industry, especially cattle ranches.
"Hay is a scarce commodity in Texas right now, and if you have some I'd keep it under lock and key and keep your shotgun handy," said Todd Staples, Texas' agriculture commissioner.
Click above to check out Jane Wells' latest report.
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Beef prices will go up for not in the short term, the beef prices should be low now because of the massive sell offs and glut of beef being pushed into the system now. There are more cattle being taken to market now due to the fire and feed shortage. Later when it evens out the prices will rise when the actual cattle shortage begins.