USDA will release its Semiannual Cattle Inventory Report on Friday, January 27, at 2:00 p.m. CT. Traders look for the report to reflect a tightening supply situation moving forward, with the only milk replacement animals expected to come in above year-ago levels.
Following are pre-report expectations (as percent of year-ago):
Semiannual Cattle Inventory Report Expectations
| Avg. trade guess
| Range
|
| ||
All cattle & calves | 98.5
| 97.4-99.1
|
Annual calf crop | 99.1
| 98.4-99.5
|
Total Cows/heifers calved | 98.1
| 96.4-99.2
|
beef cows/heifers calved | 97.5
| 95.5-98.8
|
milk cows/heifers calved | 100.2
| 98.8-100.9
|
Heifers 500 lbs. and over | 99.6
| 98.3-101.1
|
Beef replacement heifers | 97.8
| 96.0-99.8
|
Milk replacement heifers | 101.8
| 100.7-103.1
|
Other heifers | 99.4
| 96.8-101.8
|
Steers 500 pounds and over | 98.7
| 97.7-99.4
|
Bulls 500 pounds and over | 97.5
| 95.2-99.4
|
Calves under 500 pounds | 97.9
| 97.2-99.3
|
Juli says: Based on pre-report expectations, traders expect the report to show the smallest U.S. cattle herd since 1958 -- pointing to strenthening cattle prices this year.
