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CME: Combined US, Canada Cattle Inventories Slightly Lower in 2019

30 August 2019

US - USDA NASS released the US and Canada cattle and hog inventory data on 27 August. The report gives a mid-year snapshot of both cattle and hog inventories in Canada and the US, according to Steiner Consulting Group, DLR Division, Inc.

Combined US and Canada cattle and calves inventories totaled 115.255 million head on 1 July 2019 which is down slightly (-0.14 percent) from a year ago. Canada’s 1 July cattle and calves inventory totaled 12.255 million head, a 1.3 percent decline from 2018.

Over the last decade Canada’s total cattle inventory has been declining and this recent data supports the continuation of this trend. The aftermath of BSE, in late 2003, combined with drought conditions over the last decade have pressured producer returns.

Canadian fed cattle prices have improved in recent years, but producers have been hesitant to expand as more profitable crops, such as canola, are vying for the same land.

As Canada’s cattle herd moderate’s feedlot operators have been looking south to the US for cattle to fill pens. This has started to manifest in growing placement numbers and larger shipments of US feeder cattle, which are up 8.7 percent and 42 percent, respectively, year-to-date.

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TheCattleSite News Desk

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