  We develop a phenomenological hydrodynamic theory of coherent magnetic
precession coupled to electric currents. Exchange interaction between electron
spin and collective magnetic texture produces two reciprocal effects:
spin-transfer torque on the magnetic order parameter and the Berry-phase gauge
field experienced by the itinerant electrons. The dissipative processes are
governed by three coefficients: the ohmic resistance, Gilbert damping of the
magnetization, and the "beta coefficient" describing viscous coupling between
magnetic dynamics and electric current, which stems from spin mistracking of
the magnetic order. We develop general magnetohydrodynamic equations and
discuss the net dissipation produced by the coupled dynamics. The latter in
particular allows us to determine a lower bound on the magnetic-texture
resistivity.
