BUDGETS: cow calf, backgrounding, summer grazing

LMIC: Analysis and Comments, In the Cattle Market, Livestock Monitor

MARKET REPORTS: area market reports

PRESENTATIONS: meeting presentations

LEASE PUBLICATIONS - farm and ranch

Chart of the Month

USDA-NASS released the annual CATTLE inventory report on Jan. 29, 2021. As expected, cyclical beef cow liquidation continued. U.S. beef cow numbers peaked in 2018 with liquidation during 2019 and 2020. Beef cows on Jan. 1, 2021 at 31.16 million head were down 181,000 from 2020, a decline of 533,100 head in the past two years. The decline followed 2014 through 2018 increases of 376,000, 833,000, 1,007,000, 276,000, and 245,000 head. Drought was at the forefront of the decline with much of the Western U.S. experiencing dryness. Also contributing to the decline was fewer beef replacements entered the herd and beef cow slaughter was up 2.4%. Reports of more open cows than normal and narrowing cow-calf margins were also factors. North Dakota beef cow numbers countered the 2019 U.S decline with a cyclical high of 995,000 on Jan. 1, 2020. But ND followed the liquidation trend in 2020 with 975,000 head on Jan. 1, 2021. Significant spring and summer rainfall will be necessary to prevent further liquidation in the U.S. and ND.