The January 1, 2024, beef cow herd inventory was 28.22 million head, down 2.5 percent year over year and a decrease of 3.47 million head or 10.9 percent lower, from the cyclical peak in 2019.
Oklahoma State's Derrell Peel points out with the U.S. beef cow herd the smallest since 1961 and the all cattle inventory the lowest since 1951, it’s setting the cattle market up for higher highs.
Despite sharply higher cattle prices, there is no data to suggest heifer retention or enough decrease in beef cow slaughter to initiate herd expansion, although the most recent weekly slaughter data are encouraging.
As USDA prepares to release the July beef cattle inventory report, the Ag Economists' Monthly Monitor forecasts only a small reduction year-over-year. If the forecast holds true, it could put a damper on cattle prices.
After years of liquidation, the U.S. cattle herd continues to contract. With drought still a driving force behind lower cattle numbers, market experts think cattle price could top previous price records set back in 2014.
As Cattle on Feed and Cattle inventory reports release today, economist Kevin Coburn shares his expectations and how the numbers might affect the cattle cycle.
With spring upon us and drought persists, liquidation puts the industry on track to reduce the nation’s cowherd back near 2014 levels, which was the smallest beef cowherd since 1952.
Maps show the severity of drought in eight Central Plains states and where they began 2022 in beef cow numbers. These eight states represent 52% of America's beef cows, and accounted for 67% of last year's herd culling.