USDA Livestock Outlook ERS

Cattle Report Shows Significant Herd Reduction The USDA National Agricultural Statistics Service (NASS) released its semiannual Cattle report on January 31st. The total number of all cattle and calves1 on January 1, 2023, was estimated at 89.3 million head, about 2.8 million fewer than the previous year. This marks the 4th year of contraction for aggregate beef and dairy cattle inventories, in the 9th year in the current cattle cycle—the cyclical expansion and contraction of the national cattle herd over time. The cycle is influenced by the combined effects of cattle prices and input costs that drive cow-calf producer profitability, the gestation period for cattle, the time needed for raising calves to market weight, and climate conditions.