There was no USDA National Agricultural Statistics Service (NASS) July Cattle report in 2024 providing an estimate of the cattle inventory on July 1. However, the NASS Cattle on Feed report breaks down the number of steers and heifers in feedlots with capacity of 1,000 head or more on July 1.

In the first six months of 2024, the volume of federally inspected heifer and cow slaughter are down by 1% and 14%, respectively. Further, the percentage of heifers and cows in the slaughter mix in terms of the weekly average for January-June over the past 20 years, 2024 has declined year over year.

The relatively slow pace of slaughter in the first four months of 2024 contributed to the number of cattle on feed longer than 150 days on May 1 being the highest since May 2012.

The 2025 outlook for beef production is forecast at 25.12 billion pounds, a 6% decline from 2024. Next year will mark the third consecutive year of lower production following the record-large volume set in 2022 and will be lowest since 2015, when the sector began to rebuild following the 2009-13 drought.

The latest Cattle on Feed report, published by the USDA National Agricultural Statistics Service (NASS), showed a March 1 feedlot inventory of 11.838 million head, 1% above 11.685 million head in the same month last year.

The January Cattle report noted year-over-year declines in all classes of cattle, with a significant reduction in the number of calves available on Jan. 1 for feedlots, stockers and backgrounders to purchase this year.

The USDA National Agricultural Statistics Service (NASS) released its semiannual Cattle report on Jan. 31. The total of all cattle and calves on Jan. 1, 2024, was estimated at 87.157 million head, about 1.7 million fewer than the previous year.

Although USDA National Agricultural Statistics Service (NASS) commercial slaughter estimates for the month of December 2023 will be published later this month, the USDA Agricultural Marketing Service (AMS) has published the Actual Slaughter Under Federal Inspection report through the end of the year, which allows for comparison of year-to-year slaughter.

Since last month’s Livestock, Dairy and Poultry report, estimated steer and heifer slaughter was slower than expected in November and early December, suggesting a slower pace of marketings for the month and lowering expectations for the quarter.

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.