After hitting a 73-year low a year ago, the American cattle herd has declined even further.
Friday’s much-anticipated cattle inventory report pegged the total number of cattle and calves in the US as of Jan. 1 at 86.7 million head, down 1% from last year’s 87.2 million, which marked the smallest American herd since 1951. With record prices providing producers little incentive to hold back heifers to begin the rebuilding process, most traders and analysts were expecting today’s report to show a further downsizing in the herd. Most of the numbers were in line with trade guesses.
The report put the number of beef cows in the nation as of Jan. 1 at a new all-time low of 27.9 million, down 1% from last year’s 28.2 million. For context, the beef cow herd hit its peak for the current cattle cycle in 2018 at 31.8 million head. Beef replacement heifers were down 1% from a year ago as well, falling to 4.67 million head.
The 2024 US calf crop was estimated at 33.5 million head, down slightly from the previous year's calf crop. Calves born during the first half of 2024 were estimated at 24.6 million head, down slightly from the first half of 2023. Calves born during the second half of 2024 came in at 8.93 million head, 27% of the total 2024 calf crop.
The total number of cattle and calves on feed for the slaughter as of Jan. 1 totaled 14.3 million head, 1% below the Jan. 1, 2024 total of 14.4 million head.
Milk cows as of Jan. 1, at 9.35 million head, were up slightly from the previous year, while milk replacement heifers were down 1% at 3.91 million.
