U.S. Beef Herd Falls to Lowest Since 1971

USDA data released last week shows that the U.S. beef cowherd has fallen to its lowest level since 1971. As of July 1, there were 29.4 million beef cows, down 2.6% from last year and the lowest in 52 years. Beef producers have increasingly made tough decisions to reduce herd sizes to withstand ongoing severe drought conditions and high feed costs.

Tight beef supplies have large meat processors like Tyson, Cargill and JBS SA paying elevated prices until a time when producers have rebuilt their herds. New meatpacking plants opening also signal to producers the likely increased competition for cows when rebuilding occurs.

Read more on the U.S. beef cow dwindling numbers here.