The Texas economy is one of the most robust in the world. Wildly profitable companies and ingenious entrepreneurs call this state home, and what happens here influences businesses around the nation. Here’s a slice of the profits, losses, big deals, and backroom decisions happening across Texas this week.
Cold Herd Cash
This week’s rain bodes well for Texas cattle ranchers, many of whom are still reeling from losses associated with last year’s drought. Demand for beef is on the rise and herd sizes are low, and the wet weather is inspiring confidence that now is the time to rebuild. The industry is already beginning to see an uptick in cattle prices — quality cows are selling for about $1,200 more than they did a year ago, and bulls are worth about $500 more, the Associated Press reports.