The 2023 January Cattle Inventory Report was released by the National Agriculture Statistics Service (NASS) on January 31, 2023. Below are some insights from the report.
As of January 1, 2023, the US cattle inventory totaled 89.3 million head, 3 percent lower than the January 2022 inventory of 93.8 million head (See Figure 1). The reduction continues the downward trend in cattle inventory that started after 2019.
Cows and heifers that have calved totaled 38.3 million head of the total inventory of 89.3 million head as of January 1, 2023, down 4% from 2022.
South Carolina’s cattle inventory increased by 2% from 2022, counter to other states in the southern region. South Carolina’s cattle inventory totaled 315,000 head, 2 percent higher than one year ago (See Figure 2). Contrary to the national trend, South Carolina cattle numbers have increased.
All cows and heifers that have calved in South Carolina came in at 168,000 head, 1 percent higher than in 2022. Beef Cows that have calved totaled 159,000, also 1 percent higher than in 2022.
Beef replacement heifers in South Carolina increased by 3 percent from 2022. Total beef cow replacements are 30,000 head, compared to 29,000 head in January 2022.
From the report, we can expect continued cattle liquidation nationwide in the near future. However, some geographical regions with adequate feed and forage supply could see some small expansion potential. National cattle inventory reduction will result in a smaller feeder calf supply. Many forecasts predict higher calf prices going forward. This trend is expected to continue until cattle inventory increases, assuming demand for feeder cattle remains at current levels or increases.
Matt Fischer, CUCES, Extension Associate, Livestock and Forages Economist
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