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.

Progressive Cattle Editor Carrie Veselka visits with Texas A&M AgriLife Extension Ag Economist David Anderson and Rick Machen with the King Ranch Institute for Ranch Management at the 2023 Texas A&M Beef Cattle Short Course.

The USDA National Agricultural Statistics Service (NASS) released its midyear Cattle report on July 21, offering an important update on cattle inventories. The report confirmed that the U.S. cow herd has continued to decline through the first half of the year.

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.

The USDA released its monthly Cattle on Feed report on June 23, indicating a 3% decrease from year-ago levels. On feedlots with more than 1,000 head of capacity, 11.6 million cattle are on feed for slaughter in the U.S. Feedlot placements for the month of May totaled 1.96 million head, up 5% from 2022, with net placements at 1.88 million head.

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.