USDA Cattle Inventory Report 01/31 15:08

Jan. 1 Cattle Inventory Down 1%

By DTN Staff

Cattle Inventory by Class and Calf Crop - U.S.: Jan. 1, 2024, and 2025

Class 2024 2025 % of previous year
(1,000 head) (1,000 head) (percent)
All cattle and calves 87,157.4 86,662.2 99
All cows and heifers 37,359.8 37,212.8 100
that have calved
-- Beef cows 28,013.0 27,863.5 99
-- Milk cows 9,346.8 9,349.3 100

All heifers 500 lbs. and over 18,320.0 18,179.9 99
-- For beef cow replacement 4,718.3 4,672.4 98
Expected to calve* 2,971.5 2,921.8 95
-- For milk cow replacement 3,951.2 3,914.3 99
Expected to calve* 2,508.9 2,499.8 100
-- Other heifers 9,650.5 9,593.2 99


Steers 500 pounds and over 15,959.2 15,802.4 99
Bulls 500 pounds and over 2,030.7 2,009.0 99
Calves under 500 pounds 13,487.7 13,458.1 100


All cattle on feed 14,426.3 14,296.7 99


2023 2024 % of previous year
Calf crop 33,563.0 33,529.5 100

*Replacement heifers expected to calve during the year.


This article was originally posted at 2:21 p.m. CST on Friday, Jan. 31. It
was last updated with additional information at 3:08 p.m. CST on Friday,
Jan. 31.

**

OMAHA (DTN) -- All cattle and calves in the United States as of Jan. 1,
2025, totaled 86.7 million head, 1% below the 87.2 million head on Jan. 1,
2024, USDA NASS reported on Friday.

All cows and heifers that have calved, at 37.2 million head, were slightly
below the 37.4 million head on Jan. 1, 2024. Beef cows, at 27.9 million
head, were down 1% from a year ago. Milk cows, at 9.35 million head, were
up slightly from the previous year.

All heifers 500 pounds and over as of Jan. 1, 2025, totaled 18.2 million
head, 1% below the 18.3 million head on Jan. 1, 2024. Beef replacement
heifers, at 4.67 million head, were down 1% from a year ago. Milk
replacement heifers, at 3.91 million head, were down 1% from the previous
year. Other heifers, at 9.59 million head, were 1% below a year earlier.
Steers weighing 500 pounds and over as of Jan. 1, 2025, totaled 15.8
million head, down 1% from Jan. 1, 2024.

Bulls weighing 500 pounds and over as of Jan. 1, 2025, totaled 2.01
million head, down 1% from Jan. 1, 2024.

Calves under 500 pounds as of Jan. 1, 2025, totaled 13.5 million head,
down slightly from Jan. 1, 2024.

Cattle and calves on feed for the slaughter market in the United States
for all feedlots totaled 14.3 million head on Jan. 1, 2025. The inventory
is down 1% from the Jan. 1, 2024, total of 14.4 million head. Cattle on
feed in feedlots with capacity of 1,000 or more head accounted for 82.7%
of the total cattle on feed on Jan. 1, 2025, up slightly from the previous
year. The combined total of calves under 500 pounds and other heifers and
steers over 500 pounds (outside of feedlots), at 24.6 million head, was
slightly below Jan. 1, 2024.

CALF CROP DOWN SLIGHTLY

The 2024 calf crop in the United States was estimated at 33.5 million
head, down slightly from the previous year's calf crop, according to USDA
NASS. Calves born during the first half of 2024 were estimated at 24.6
million head, down slightly from the first half of 2023. Calves born
during the second half of 2024 were estimated at 8.93 million head, 27% of
the total 2024 calf crop.

REVISIONS

All inventory and calf crop estimates for July 1, 2023, and Jan. 1, 2024,
were reviewed using calf crop, official slaughter, import and export data,
and the relationship of new survey information to the prior surveys. Based
on the findings of this review, July 1, 2023, all cows and heifers that
have calved decreased by 0.3% and 2023 calf crop decreased by 0.1%. Jan.
1, 2024, all cows and heifers that have calved decreased by 0.6%.

State-level estimates were reviewed, and changes were made to reallocate
inventory estimates to the United States total, according to USDA NASS.

DTN ANALYSIS

"Friday's USDA Cattle inventory report shared exactly what we expected it
would: There are fewer beef cows in the U.S. today than there were a year
ago, which pushes the U.S. beef cow herd to yet another historic low," DTN
Livestock Analyst ShayLe Stewart said following the report's release.

"Of the top 10 beef-producing states in the U.S., the year-over-year
changes in each of their individual beef cow inventories varied: Texas up
1%, Oklahoma up 1%, Missouri up 2%, Nebraska down 3%, South Dakota down
3%, Kansas steady, Montana up 1%, Kentucky down 4%, Florida steady and
North Dakota up 1%.

"So, while record-high feeder cattle prices were the market's norm through
most of 2024, and certainly have been thus far through 2025, cow-calf
producers have been reluctant to be overly aggressive about restocking
their herds, as the business in which they operate is still laced with
plenty of challenges, such as high interest rates, expensive operational
costs and the continued concern of drought, all of which can easily erode
profitability.

"Needless to say, Friday's report should quiet the murmurs that there has
been some slight growth in the cow herd. Not only was the total number of
beef cows lower for January 2025 than it was compared to a year ago, but
the number of beef replacement heifers was also down 1% compared to a year
ago, which indicates that the vast majority of heifer calves are still
being marketed as feeder calves as opposed to being kept back as
replacement females.

"Come Monday morning, traders should undeniably find Friday's report to be
bullish kindling for the cattle complex."

**

DTN subscribers can view the full USDA Cattle inventory report in the
Livestock Archives folder under the Markets menu. The report is also
available at https://www.nass.usda.gov/.