Texas lost nearly two livestock auction markets a year over the past four decades, according to a study by Texas A&M economists. The Lone Star state had 167 markets in 1969, dropping to 92 in 2013. The study says droughts during the past decade played a role. There are now 4.2 million beef cows in the state, down from the peak of 7 million in the mid-1970s. “We have the Internet, video auctions and direct sales. All of that has played a part in how we trade and market cattle,” Anderson told AgriLife Today, an A&M website. With fewer markets, the sales barns handle more cattle but their revenue, when adjusted for inflation, has declined.