1. A graphics processing system with a min/max texture filter, the filter comprising: input circuitry to receive texel data for a plurality of texel groups associated with a filter footprint, wherein each texel group includes four nearest neighboring texels; comparison circuitry coupled to the input circuitry to compare pairs of texel values to determine a minimum or maximum value for a set of texel inputs associated with one comparison iteration, wherein the comparison circuitry further comprises: first comparison circuitry to perform a first comparison of min/max texel values within texel groups to determine group-level min/max texel values; second comparison circuitry coupled to the first comparison circuitry to perform a second comparison of group-level min/max texel values to determine a multi-group min/max texel value; and cumulative comparison circuitry coupled to the comparison circuitry to accumulate the maximum or minimum texel value over a number of comparison iterations to compare all texel values in the plurality of texel groups associated with the footprint.