News

All cattle and calves down 1% from 2023

The USDA’s long-awaited return of the mid-year Cattle Inventory report indicates widespread herd expansion still isn’t happening.

As of July 1, all cattle and calves in the U.S. are 1 percent below the same period in 2023, but have increased since the start of 2025.

The number of heifers weighing 500 pounds and heavier is 2 percent below July of 2023.  Beef replacement heifers are down 3 percent from 2023 and have declined since January 1, 2025. Milk replacement heifers are unchanged from 2023 and up slightly from the start of thisa year.

The number of calves weighing less than 500 pounds is down 2 percent compared to 2 years ago.

All cows and heifers that have calved were down 1 percent from 2023, but are up 900,000 head from January 1, 2025.
Steers weighing 500 pounds and heavier were down 1 percent compared to July 2023, bulls were unchanged.

The 2025 calf crop in the U.S. is expected at 33.1 million head, which is down 1 percent from last year.  Calves born during the first half 2025 are estimated at 24.3 million head, down 1 percent from the first half of 2024. 
The numbers were close to pre-report expectations.  Data suggests the cattle herd will continue to tighten and will likely be supportive to prices into 2026.  However, it will largely depend on sustained beef demand.