U.S. beef cattle numbers remain at lows that have not been witnessed since the 1950s, but cattle producers seem reluctant to expand the herds. Getting the whole picture is more difficult since the USDA canceled its July cattle inventory report due to budget cuts.

Western Illinois University ag economist Jason Franken explained that looking at the heifers on feed in the monthly USDA Cattle on Feed report helps identify cattle number trends. Slaughter numbers also provide insight. Franken estimated this data shows a July 1 U.S. cattle inventory of 94.2 million. This would be 1.2% lower than July 2023.

According to the July Cattle on Feed report, heifers make up just under 40% of cattle in feedlots. That number is much lower when producers are in expansion mode. Producers have been slow to hold onto replacement heifers because they can get good prices for the calves.

Read more about the cattle numbers here.