Texas' total cattle inventory is down, despite the fact that the state has received more rain this year than it has in the past few years. From 2012-13, the number of cattle in the state fell by 600,000. Now, numbers are under 11 million head of cattle, after numbers feel another 3.5% this year, CNN reported.

The cattle shortage is driving prices higher, however, the industry is still hurting, according to Pete Bonds, the president of the Texas and Southwestern Cattle Raisers Association.

The state is trying to help ease the pain from previous years by creating a state beef checkoff program that will invest a dollar from each animal sold to the program to benefit both the producer and the consumer.

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