July Cattle Report signals stabilizing cattle herd
- 6 hours ago
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Source: American Farm Bureau Federation
Total cattle inventory increased slightly for the first time since 2018, but the beef cow herd fell to 28.5 million head, a record low for the July report, indicating herd rebuilding remains limited.
WASHINGTON, DC - USDA’s July Cattle Inventory report offers a critical midyear snapshot of the U.S. cattle herd, including an estimate of the year’s calf crop. Released in tandem with USDA’s monthly Cattle on Feed report, the two datasets together provide a more comprehensive view of supply trends and herd dynamics.
July Cattle Inventory
According to the July Cattle Inventory report, the inventory of all cattle and calves in the United States totaled 94.2 million head on July 1, 2026, up 200,000 head, or less than 1%, from 94.0 million head on July 1, 2025. This marks the first increase in the July cattle inventory since 2018.
Despite the slight increase in total inventory, indicators of herd expansion remain mixed. All cows and heifers that have calved were estimated at 38.1 million head, unchanged from a year ago. Within that total, beef cows were estimated at 28.5 million head, down 200,000 head, or 1%, from 2025 and the smallest July inventory on record (the data goes back to 1973). In contrast, milk cows were estimated at 9.65 million head, up 200,000 head, or 2%, from last year.
One of the most closely watched measures in the report is the inventory of beef replacement heifers weighing more than 500 pounds, which was estimated at 3.8 million head, up 100,000 head, or 3%, from 2025. This increase represents the first meaningful sign of heifer retention and potential herd rebuilding in nearly a decade. Meanwhile, other heifers totaled 7.3 million head, down 100,000 head, or 1%, from last year. These animals remain a potential source of future breeding stock.
The report also estimated the 2026 calf crop at 32.5 million head, down 2% from 2025 and the smallest calf crop on record. This marks the ninth consecutive year of decline and remains a major constraint on future herd growth. These calves represent the pool of animals available either for breeding or for placement into feedlots in 2027 and 2028. As long as calf numbers continue to decline, producers face limitations in expanding the herd, regardless of retention decisions.
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