Cattle inventory numbers point to more contraction

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Cattle inventory numbers point to more contraction

The USDA’s semi-annual cattle inventory numbers show a smaller U.S. herd and point to further contraction.

On January 1^st, 2022, the U.S. cattle herd was 91.902 million head, down 2% from January 1^st, 2021.

All the major categories were also below year ago levels.

The number of cows and heifers that have calved was reported at 39.5 million head, 2% lower, with beef cows at 30.125 million, down 2%, and milk cows at 9.375 million head, down 1%.

All heifers weighing 500 pounds and over were pegged at 19.776 million head, down 2%, with beef replacement heifers at 5.612 million head, with 3.412 million of those expected to calve, while milk replacement heifers came out at 4.451 million head, with 2.836 million of those expected to calve, all 3% under year ago levels. Other heifers weighing 500 pounds and heavier were 9.714 million head, a decline of 1%.

Steers weighing 500 pounds and heavier totaled 16.58 million head, 1% lower, with bulls 500 pounds and over 2.11 million head, a drop of 5%, and calves weighing less than 500 pounds were 19.936 million head, down 3%.

The USDA says last year’s calf crop was 35.085 million head, 1% less than the 2020 total.

The numbers look bullish for cash and futures prices, but that will depend on several factors, including the pace of placements of cattle into U.S. feed lots, marketings, and sustained beef demand.

The USDA’s next set of semi-annual cattle inventory numbers is out July 22^nd.

Year-to-year inventory comparisons for Brownfield states:

Arkansas: Inventory: 1.69 million head, down 5% from January 1^st, 2021

Illinois: Inventory: 1 million head, down 5% from January 1^st, 2021

Indiana: Inventory: 810,000 head, down 5% from January 1^st, 2021

Iowa: Inventory: 3.85 million head, up 4% from January 1^st, 2021

Kansas: Inventory: 6.5 million head, down 1% from January 1^st, 2021

Michigan: Inventory: 1.12 million head, down 2% from January 1^st, 2021

Minnesota: Inventory: 2.2 million head, up 2% from January 1^st, 2021

Missouri: Inventory: 4.04 million head, down 6% from January 1^st, 2021

Nebraska: Inventory: 6.8 million head, down 1% from January 1^st, 2021

Ohio: Inventory: 1.3 million head, up 3% from January 1^st, 2021

South Dakota: Inventory: 3.8 million head, down 5% from January 1^st, 2021

Tennessee: Inventory: 1.75 million head, down 2% from January 1^st, 2021

Wisconsin: Inventory: 3.5 million head, up 1% from January 1^st, 2021