USDA released two key reports on the cattle market today, the Cattle on Feed report and the July Cattle Inventory report. The Cattle Inventory report was suspended last year, so this is the first mid-year look at the cattle herd since 2023. The nation’s cattle herd, as of 1 July, is 94.2 million head, a little above pre-report expectations but still 1 percent below 1 July 2023. In line with expectations, the number of bulls 500 pounds and heavier were unchanged at 1.9 million head. Every other category, however, dropped.
Beef cows at 28.7 million head are down 1 percent from 2023 Beef replacement heifers at 3.7 million head are down 3 percent from 2023 Steers 500 pounds and over are 13.8 million head, do...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
