While mostly in line with pre-report trade estimates, the highly anticipated USDA “Cattle” report provided an even clearer picture of the drought’s impact on the U.S. beef cattle industry.
The total inventory of cattle and calves in the U.S. as of Jan. 1, 2023, totaled 89.3 million head, 3% below the 92.1 million head on January 1, 2022. The average pre-report trade estimate was also for a 3% decline.
USDA NASS
As expected by analysts, the number of beef cows on Jan. 1 was 28.9 million head, down 4% from a year ago and the lowest inventory since 1962.
All cows and heifers that have…
