NOAA says last month was the 4th warmest July in the US records, 2.7 F above the 1901-2000 average.
They also say July saw the largest "exceptional" drought footprint--their most severe category--though their drought index is only 12 years old. In their press release they write "Drought conditions at several locations in the South region are not as long lived, but are as dry, or drier, than the historic droughts of the 1930s and 1950s." 75% of Texas is in a drought condition.
NOAA: "Drought conditions are so harsh in some locations that it would take as much as 20 inches of precipitation in one month to end the drought. In Oklahoma, 100 percent of the state is suffering from moderate-exceptional drought compared to the beginning of the water year (9/28/2010), when drought conditions covered only four percent of the state."
The press release isn't on the Web yet; I'll link to it when it is. (UPDATE: Here is it.)