Submitted by: Matthew Fischer, Clemson Extension Livestock Economist and Brian Beer, Clemson Extension Area Livestock and Forages Agent
The 2024 January Cattle Inventory Report was released by the National Agriculture Statistics Service (NASS) on January 31, 2024. Below are some insights from the report.
As of January 1, 2024, the US cattle inventory totaled 87.2 million head, 2 percent lower than the January 2023 inventory of 88.8 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 37.6 million head, down 2% from the 38.3 million head on January 1, 2023. Beef cows that calved were down 2% at 28.2 million head. Beef Cow Replacements were 1% lower than 2023 at 4.06 million head.
Figure 1.
Source: NASS January 2024 Cattle Inventory Report
South Carolina’s cattle inventory decreased by 8%. South Carolina’s cattle inventory dropped to 290,000 head from the 2023 inventory of 315,000 head. Other states in the southern region were down 2-6 percent. Alabama’s cattle inventory is down 6%, Georgia is down 2%, and Florida is down 3%.
All cows and heifers that have calved in South Carolina came in at 156,000 head, 7% lower than 2023. Beef Cows that have calved totaled 148,000, also 7% lower than 2023.
Beef replacement heifers in South Carolina is a surprising 13% decrease from 2023. Total beef cow replacements are 26,000 head, compared to 30,000 head in January 2023. In 2023 South Carolina reported a 3% year-over-year increase in heifer retention and a 2% increase in total cattle inventory (Figure 2).
Figure 2.
From the report, we remain in the liquidation phase of the cattle cycle in South Carolina and Nationally. The liquidation has been affected by persistent drought, input prices, and high marketing prices. However, there is some growth with 18 states reporting level or increasing cattle inventory compared to 2023. Overall, the national cattle inventory reduction will result in a smaller feeder calf supply. The 2023 calf crop is estimated at 33.59 million head, down 2% from the previous year.
Many forecasts continue to predict high 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. Click here to see the USDA 2024 January Cattle Inventory Report.
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