Prior expectations for the number of cattle on feed in the second half of 2023 were that generally tighter cattle supplies and potentially growing retention of heifers for breeding would lead to smaller levels than a year ago.

The latest Cattle on Feed report, published by the USDA National Agricultural Statistics Service (NASS), estimated the Sept. 1 feedlot inventory at 11.094 million head, over 2% below 11.342 million head in the same month last year.

The latest Cattle on Feed report, published by the USDA National Agricultural Statistics Service (NASS), estimated the Aug. 1 feedlot inventory at 11.030 million head, over 2%  below 11.289 million head in the same month last year.

On July 21, the USDA National Agricultural Statistics Service (NASS) released its biannual Cattle report. According to the report, on July 1, 2023, all cattle and calves were estimated at 95.9 million head, down 2.7 million head, or nearly 3%, from July 2022.

Since January, slaughter data has indicated a 12% decline in beef cow slaughter. This is likely a combination of improving pasture conditions, sufficient reductions in animal units per acre on poorer pastures and the prospect of improved profitability from selling calves.

Beef exports in May, while trending below last year’s record levels, have, in many international markets, reached the highest levels so far in 2023, according to data from the U.S. Meat Export Federation.

April’s beef exports were 10% below last year’s levels, while value fell 18%.

With generally improving pastures and lower expected feed costs this year, the demand for feeder calves is well supported.

Since October 2022, drought conditions have improved for much of the country, to the point where less than 24% of the U.S. is under drought conditions.

The forecast for first-quarter beef production is lowered 25 million pounds, based on USDA Agricultural Marketing Service reports of federally inspected livestock slaughter, showing a slower pace of fed cattle slaughter and lower aggregate carcass weights than expected last month.