Texas Drought Threatens Cattle Ranchers' Livelihood

It's auction day at the West Cattle Barn in central Texas, reports CBS News correspondent Don Teague.

It's auction day at the West Cattle Barn in Central Texas, reports CBS News correspondent Don Teague.

For 74-year-old rancher Cotton Dietrich, this will be his last.

Deitrich is selling off his herd -- all of his cattle -- because the once-fertile grasslands that feed them are gone.

Three-quarters of Texas is in extreme or exceptional drought. Lubbock has had less 1 in. of rain this year. Houston has had just over 1½ in. in three months -- about the same as the Sahara Desert.

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