The cattle and beef sectors are closely watching for signs that herd rebuilding efforts have started. Total cattle inventory levels have been on a decline since 2019 when inventory was 94.7 million head, dropping to 87.2 million head (-8%) at the start of 2024. As about a decade has passed since the last herd rebuilding, the question becomes: is the stage set for the next rebuilding?
Rebuilding efforts can depend on a myriad of factors such as drought, range and pasture conditions, feed availability and costs, and percentage of heifers on feed. Across the U.S., drought conditions have improved from a year ago. According to data for the first week of June, 26% of the U.S. was categorized as abnormally dry to exceptional drought (D0-D4) compared to 55% at the same time last year. For states like Nebraska, Kansas, Oklahoma, and Texas, drought conditions have improved considerably from a year ago.
By Tyler W. Cozzens
June 10, 2024
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