The market is digesting the mid-year Cattle Inventory Report. The report released Friday shows the expansion of the nation's beef herd may be coming to an end.
USDA says as of July 1, all cattle and calves in United States totaled 103 million head. That's exactly the same as a year ago. Cow and heifer numbers were down slightly but mostly due to fewer milk cows. The telling number in the report is the beef replacement heifer number pegged at 4.40 million head.
That's down 4 percent from a year ago. Meanwhile the calf crop is also forecast to be slightly lower than a year ago. Is expansion slowing down?
AgDay national reporter Betsy Jibben has some reaction to the report. She talks with Chip Nellinger with Blue Reef Agri-Marketing and Derrell Peel, a Livestock Marketing Specialist with Oklahoma State University.