Several reasons for slow herd expansion

The mid-year cattle inventory report showed that cattle numbers continue to get smaller and there is no significant indication of herd rebuilding so far.  Despite sharply higher cattle prices this year, there is no data to suggest heifer retention or enough decrease in beef cow slaughter to initiate herd expansion, although the most recent weekly slaughter data are encouraging.  The process thus far is considerably slower than the herd expansion after the drought in 2011-2013 pushed cattle inventories to a cyclical low in 2014. There are several reasons why producers are moving more…