The USDA’s semi-annual Cattle (Inventory) report Friday said the US cattle inventory on July 1 of 94.2 million head, slightly more than the 94.0 million head on July 1, 2025.
A market analyst said the report showed a gradual increase in total numbers, but it may not be enough to indicate the sprout of a trend toward holding heifers from the feedlots for breeding at home.
HEIFERS UP 1%
However, the supply of heifers weighing 500 pounds or more was up 1% from a year earlier with beef and dairy replacement heifers each up 3%, so there appears to be a strong desire to grow the US cattle herd, the analyst said.
All heifers 500 pounds or more totaled 14.7 million head, about 1% more than the 14.6 million a year ago, the USDA said. Beef replacement heifers, at 3.80 million head, were up 3% from a year earlier. Milk replacement heifers, at 3.60 million head, also were up 3% from a year ago. Other heifers, at 7.30 million head, were down 1% from a year earlier.
Steers 500 pounds or more on July 1 totaled 13.9 million head, up 1% from a year ago.
Bulls 500 pounds or more on July 1 totaled 1.99 million head, unchanged from last year.
Calves weighing less than 500 pounds on July 1 totaled 25.6 million head, also unchanged from last year.
CALVING RATE UNCHANGED
All cows and heifers that have calved totaled 38.1 million head, unchanged from the 38.1 million head on July 1, 2025. Beef cows, at 28.5 million head, were down 1% from a year ago. Milk cows, at 9.65 million head, were up 2% from 2025.
The 2026 US calf crop was expected to be 32.5 million head, down 2% from last year. Calves born during the first half of 2026 were estimated at 23.9 million head, down 2% from the first half of 2025.
An additional 8.60 million calves were expected to be born during the second half of the year.
CATTLE ON FEED UP 2%
Cattle and calves on feed for the slaughter market in the US for all feedlots totaled 13.2 million head on July 1, up 2% from last year. Cattle on feed in feedlots with capacity of 1,000 or more head accounted for 86.1% of the total cattle on feed, up 1% from last year.
The total of calves under 500 pounds and other heifers and steers over 500 pounds (outside of feedlots), at 33.6 million head, was down 1% from the 33.8 million head on July 1, 2025.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers last week ranged from $238.00 per cwt to $252.00, compared with the previous week’s range of $248.00 to $256.91 per cwt. FOB dressed steers and heifers went for $373.89 per cwt to $388.86, compared with $389.00 to $400.06.
The USDA choice cutout Friday was down $1.63 per cwt at $361.24 while select was down $2.04 at $346.71. The choice/select spread widened to $14.53, from $14.12 with 85 loads of fabricated product and 46 loads of trimmings and grinds sold into the spot market.
The USDA-listed the daily weighted average wholesale price for fresh 90% lean beef as $455.57 per cwt, and 50% beef was $171.03.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $1.18 to $1.33 a bushel over the Sep corn contract, which settled at $4.64 a bushel, unchanged.
The CME Feeder Cattle Index for the seven days ended Thursday was $349.65 per cwt, down $1.07. This compares with Friday’s Aug contract settlement of $345.00, up $2.02.