USDA recently issued its annual Jan. 1 count of U.S. and state cattle inventories. Not surprisingly, national beef cow numbers declined for the fourth consecutive year, reaching the lowest level since 1962.
The total inventory of cattle and calves fell to 89.3 million head, the lowest since 2015. These declines have positive implications for cattle prices not only in 2023, but also for the next two to three years.
Count all feeder cattle
One number not published directly in the report — but very important to market leverage and relative…
