– Dr. Kenny Burdine, Livestock Marketing Specialist, University of Kentucky
In some ways, USDA’s July Cattle Inventory report brought some welcome news to cattle producers. Flat beef cow inventory and a decrease in beef heifer development suggested that the expansion phase of this cattle cycle may finally be over. I have always put more stock in the January inventory number, but this is the first report that clearly suggests a halt in expansion. Beef cow numbers were unchanged from a year ago and beef heifer development was actually down a little more than 4%.
Most all other estimates line up with this general overview. A slight decrease in the expected size of the 2019 calf crop is also good news for cow-calf operations who continue to struggle to see attractive returns to labor and capital. Cattle-on-feed numbers remain above 2018 levels, but this is largely a function of last year’s calf crop. A summary table from the inventory report can be found below Continue reading Kentucky Beef Cattle Market Update