Nearly hunted out of existence in California, newly reintroduced gray wolves are killing cattle, hurting ranchers' bottom line.

Eagle Rock Ranch, founded in 1868, remains a thriving cattle operation in Colorado's high country. It is now run by first-generation ranchers Dave and Jean Gottenborg.

I use my farm to cut hay, three times a year right now, and sell it to local cattle farmers. But if I decide I have five children and I want to give one of them (some land) even, that’s going to ...