# July Cattle Update: Inventory Still Falling, Drought Conditions Improve

> USDA's July inventory report put all US cattle and calves at 95.9 million head on July 1, 2023, down 3% from last year and below analyst expectations. Beef cattle supplies hit a 52-year low, and the steer price is 27% higher than a year earlier.

- Date: 2023-08-01 · published 2023-08-01T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/35187-july-cattle-update-inventory-still-falling-drought-conditions-improve
- Commodities: [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

A smaller herd than expected and record-low beef cattle supplies support higher cattle and beef prices, and reduced slaughter supply tightens the market for feed-fed animals.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| FCATTLE | 2023-01-31 | [U.S. cattle inventory falls 3%](https://feedsoft.ai/events/37278-u-s-cattle-inventory-falls-3.md) | +2.1% | +3.2% |
| FCATTLE | 2022-03-23 | [U.S. cattle inventory down fractionally - Progressive Cattle \| Ag Proud](https://feedsoft.ai/events/42219-u-s-cattle-inventory-down-fractionally-progressive-cattle-ag-proud.md) | +0.2% | +0.8% |
| FCATTLE | 2024-01-01 | [Jan. 1 Cattle Inventory Down 2%](https://feedsoft.ai/events/31617-jan-1-cattle-inventory-down-2.md) | +0.7% | +8.6% |
| FCATTLE | 2022-01-31 | [Jan. 1 Cattle Inventory Down 2%](https://feedsoft.ai/events/43084-jan-1-cattle-inventory-down-2.md) | +4.1% | -1.2% |
| FCATTLE | 2022-07-23 | [United States cattle inventory down 2 percent \| DRGNews](https://feedsoft.ai/events/40434-united-states-cattle-inventory-down-2-percent-drgnews.md) | -1.6% | -0.0% |
| LCATTLE | 2023-01-31 | [U.S. cattle inventory falls 3%](https://feedsoft.ai/events/37278-u-s-cattle-inventory-falls-3.md) | +1.6% | +4.7% |
| LCATTLE | 2022-03-23 | [U.S. cattle inventory down fractionally - Progressive Cattle \| Ag Proud](https://feedsoft.ai/events/42219-u-s-cattle-inventory-down-fractionally-progressive-cattle-ag-proud.md) | +0.5% | +2.0% |
| LCATTLE | 2024-01-01 | [Jan. 1 Cattle Inventory Down 2%](https://feedsoft.ai/events/31617-jan-1-cattle-inventory-down-2.md) | -0.4% | +2.3% |

## Sources

- fb.org: https://www.fb.org/intel/markets/july-cattle-update-inventory-still-falling-drought-conditions-improve

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.