Commodities
US Cattle Herd Shrinks to 73-Year-Low in Blow for Beef Lovers
- Number of cows shrank to the lowest amount since 1951
- Price of beef has risen as drought-stricken cow herds dwindle
A beef cow in Floresville, Texas. There were 87.2 million cattle as of January 1, down about 2% from a year ago and less than anticipated by analysts surveyed by Bloomberg.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
The US cattle herd shrank to the lowest level in more than seven decades as ranchers continue to send their cows to slaughter, threatening to keep beef prices at stubbornly high levels for consumers for at least another couple of years while eroding profits for meat processors.
There were 87.2 million cattle as of January 1, down about 2% from a year ago and less than anticipated by analysts surveyed by Bloomberg, the US Department of Agriculture said Wednesday in its biannual cattle-inventory report. That’s the smallest animal count since 1951, according to USDA data.