1 year ago
U.S. Cattle Count Suggests Soaring Beef Prices To Continue
The United States has fewer cows than usual, which is making beef very expensive.
There are about 94.2 million cows, the lowest number since 1973.
Fewer cows are also being sent to places where they get fat before being sent to slaughter.
Ranchers have been selling their cows because it's been costly to raise them.
Even though prices are high, it doesn't seem like ranchers are adding more cows yet, which means beef prices will likely stay high for a while.
This could mean people might buy other meats like chicken and pork instead.
U.S. cattle count hit its lowest mid-year level since 1973, about 94.2 million.
The number of animals in feedlots dropped to the lowest since 2017.
Record beef prices and costs are affecting both consumers and companies like JBS and Tyson.
Ranchers are not meaningfully retaining females for breeding.
Beef supplies are not expected to recover before 2028 or 2029.
- Who
- U.S. ranchers, consumers, and meat producers like JBS and Tyson.
- What
- The U.S. cattle count is low, impacting beef prices.
- Where
- United States.
- When
- As of July 1st, 2024, the cattle count was at its lowest.
- Why
- Low cattle numbers are driving up prices, affected by high costs and drought.
Consumer Perspective
Rancher's Perspective
Beef Prices
Consumer Perspective
Higher beef prices.
Rancher's Perspective
Stable or lower beef prices.
Rancher Finances
Consumer Perspective
Ranchers are struggling.
Rancher's Perspective
Ranchers profits will be restored.
Key facts
- Cattle Count (July 1st)
- 94.2 million
- Lowest Cattle Count Record Start
- 1973
- Feedlot Animals at Lowest Since
- 2017
- Impacted Companies
- JBS, Tyson Foods Inc.
- Projected Recovery
- 2028-2029
