The U.S. Department of Agriculture’s only Cattle Inventory Report will be out later today. The markets are eager to get ahold of this data, which will be the only report of its kind this year.
The big question will be whether the U.S. beef cow herd has seen any growth. Some analysts believe the number will be lower than last year’s January report. Analysts with DTN feel the same. Adding slaughter data for last year also supports a decline.
The 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.
The Cattle Inventory Report will be the only one of the year and will come out at 3:00 PM Eastern.
