The U.S. cattle herd was slightly larger than a year earlier on July 1, with the number of beef replacement heifers up but beef cows and the calf crop down
A USDA cattle inventory report on Friday pegged the total number of cattle and calves on American farms as of July 1 at 94.2 million, up from 94 million the previous year. The number was modestly above pre-report expectations, which generally pointed to an inventory near or slightly below last year.
The report offered the clearest evidence yet that producers may be taking initial steps toward rebuilding. Beef replacement heifers rose 3% to 3.8 million head, while total heifers weighing 500 pounds or more increased 1%. On the other hand, beef cow numbers fell 1% to 28.5 million head, while all cows and heifers that had calved were unchanged at 38.1 million.
The 2026 calf crop was projected at 32.5 million head, down 2%, reinforcing expectations that feeder cattle and fed cattle supplies will remain constrained.
The July figures follow the USDA’s January cattle inventory report which put the total number of cattle and calves at 86.2 million cattle and calves, the smallest January herd since 1951. Beef cows were also down 1% in that report, while the 2025 calf crop fell 2%.
Historically, cattle cycles typically last 8 to 12 years because production responds slowly to prices and pasture conditions. The current cycle expanded after the 2014 low, peaked around 2019 and then entered a prolonged contraction that accelerated after 2020 amid drought.
