No Surprises in USDA Cattle Inventory Report - Derrell Peel Says Numbers Reflective of ExpectationsWed, 31 Jan 2018 18:12:13 CST
The United States Department of Agriculture, Wednesday afternoon, released the Cattle Inventory report based on January 1, 2018 data. Radio Oklahoma Ag Network Farm Director Ron Hays reached out to Dr. Derrell Peel, extension livestock market economist, for his analysis of the numbers in that report. Peel’s initial reaction is that the report came in very much as expect with few surprises. Listen to his complete breakdown of the numbers and industry outlook, by clicking or tapping the LISTEN BAR below at the bottom of the page.
According to the report, Texas again led the nation with a beef cow herd size of 4.585 million head, nearly 125,000 head more than the previous year. Texas was followed by Missouri with 2.166 million head, up from 2017, and Oklahoma up slightly as well with 2.131 million head. Kansas ranked further down the list with a slight year-over-year decrease at 1.5 million head and Arkansas further still with only a margin increase from a year ago at 924,000 head.
Nationally, the total cattle inventory was up 7/10 of a percent at 100.7 percent above a year ago. The beef cow number is reported up 1.6 percent; beef replacement heifers down 3.7 percent; and other heifer categories were all measured close to expectations. Overall, the beef cow herd increased during the past year by approximately 1.6 percent, coming in at a total 31.72 million head.
“What it says in the broader picture is that herd expansion did continue in 2017,” Peel remarked. “But it continued at a significantly slower pace than the two years prior to that.”
Texas is the usual annual leader in this report, however both Oklahoma and Missouri typically fluctuate in their respective ranking. Last year, Oklahoma placed behind Texas in the lineup, but has in this year’s report flip flopped with its contender Missouri for the runner-up position. Although it is worth noting that Oklahoma still remains among the top three states on the beef cow herd list.
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