The U.S. Department of Agriculture’s January and July Cattle Inventory reports, released toward the end of each respective month, provide the total inventory of beef cows, milk cows, bulls, replacement heifers, other steers and heifers, and the calf crop for the current year. With drought and high input costs compelling farmers to market a greater-than-normal percentage of female cattle, the most recent cattle inventory decreased to numbers not seen in decades. Market Intel will provide analysis of the Jan. 1 inventory, which will set the tone for cattle markets in 2024.
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Bernt Nelson is an economist with the American Farm Bureau Federation’s Market Intel. Visit www.fb.org/market-intel for more information.Â





