USDA’s only Cattle Inventory Report will be out later today. It is the data that the markets are eager to get a hold of and will be the only report of its kind this year.
The big question will be if the U.S. beef cow herd has seen growth. Some analysts believe the number will come in lower than last year’s January report. Analysts with DTN feel the same, adding slaughter data for last year also supports a decline. The Cattle Inventory Report will come out at 3:00 PM Eastern and will be the only one of the year.
USDA decided to stop publishing the July Cattle Inventory Report last year. The Department says the move was necessary due to budget concerns. NCBA calls the move misguided, and Dr. Darrell Peel says it will be a big loss for the industry.