The combined U.S and Canadian cattle and hog herds have gotten tighter. That’s led by U.S. cattle producers liquidating due to drought and U.S. hog producers cutting inventory to improve profitability.
According to the USDA and Statistics Canada, the combined cattle herd on July 1st was 111.09 million head, down 2% on the year, with all cows and heifers that have calved falling 2%. That included a 2% decline in the U.S. to 98.8 million head and a 3% decrease in Canada at 12.29 million head.
