The US cattle herd experienced a slight increase from the previous year, marking a potential turning point for ranchers after a significant shortage.

As of January 1, 2024, the total cattle and calf inventory stood at 87.4 million head. This represents a 0.3% increase compared to the same date in 2023, when the herd numbered 87.1 million head. This modest growth suggests that ranchers might be beginning to hold back more females for breeding purposes, a crucial step in rebuilding the herd.

The number of beef cows, a key indicator of future supply, also saw a slight uptick. The inventory of beef cows and heifers that have calved reached 28.9 million head, up 0.1% from the 29.0 million head reported in early 2023. This stabilization, however, follows a period of significant contraction. The number of cattle on feed for the slaughter market also saw a marginal increase.

Despite the positive signals, the herd remains near multi-decade lows. The current inventory is still considerably smaller than the 100 million head recorded in 2007. The growth, while welcome, indicates that the process of rebuilding the US cattle herd will likely be a gradual one, with significant supply increases not expected in the immediate future.