News

U.S. cattle inventory declines

The USDA’s biannual Cattle Inventory report shows the industry’s expansion appears to be over for now. The January 1st, 2020 inventory was down slightly from January 1st, 2019 at 94.413 million head, the first decline in January since 2014.

All cows and heifers that have calved declined 1% to 40.651 million head, with a 1% decrease in beef heifers to 31.317 million and a slight decrease for milk cows to 9.335 million head.

All heifers heavier than 500 pounds were slightly lower at 20.114 million head, with milk replacement heifers 1% lower to 4.637 million and beef replacement heifers down 2% at 5.772 million head, while other heifers were up 1% at 9.706 million.

Steers and bulls weighing more than 500 pounds were 1% below last year at 16.671 million and 2.237 million head, respectively, but calves weighing more than 500 pounds were up 1% at 14.739 million, even as the 2019 calf crop was down 1% at 36.060 million head.

The numbers look neutral to friendly for long-term cash and wholesale prospects, but that will at least partially depend on beef demand.

The next set of Cattle on Feed numbers is out February 21st.