Cattle Inventory Near Expectations; US Herd Down 3% from Yr-Ago
The USDA's cattle inventory report released Tuesday afternoon showed the number of cattle and calves in the U.S. as of Jan. 1 at 97.0% of a year ago, nearly on par with the average of analysts' estimates.
The herd was reported at nearly 89.274 million head, down from 92.077 million a year ago, the U.S. Department of Agriculture reported. Analysts participating in the Urner Barry survey estimated on average a 2.9% decrease in the total herd from the previous year, or about 89.236 million head. The range was 96.7% to 97.5%.
The nation's calf crop in 2022 was reported at 34.465 million head, down 2.0% from 2021. The average of analysts' estimates was 2.6% below a year ago.
The number of beef cows that gave birth in 2022 was reported at 28.918 million, down almost 3.6% from a year earlier. Analysts had pegged the figure at 4.2% smaller...
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