According to the National Agricultural Statistics Service (NASS) U.S. inventory of cattle and calves totaled 87.7 million head as of January 1, 2014 – a decrease of 1.6 million head from the same date in 2013 and a decrease in herd size of 2%. These numbers reflect the smallest herd size since 1951. Rebuilding the herd will be a long-term prospect as well as the number of cows and heifers is at 38.5 million – the lowest number since 1941. According to Kevin Good, senior analyst at Cattle Fax, the declines are due to high feed and input costs, drought, and land being transferred to the production of crops away from cattle. NASS also reports that the number of all cattle on feed for slaughter in feed lots totaled 2.13 million as of January 1st – a decrease of 5% from 2013. There were increases however. Beef cows totaled 1.4 million, an increase of 6% and both 500 pound heifers and calves less than 500 pounds were up 2%. Mr. Good predicts that the earliest the market will see an increase of beef will be 2016.
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