A livestock economist says the July Cattle Inventory report confirms the cattle industry remains in the liquidation phase.
University of Missouri’s Scott Brown tells Brownfield the latest report from the USDA has beef heifer replacements down. “The USDA total is 97.6% of the year ago,” he says. “So we don’t appear to be holding back heifers for replacements when we look at this survey data.”
He says the latest Cattle on Feed report, also released on Friday, indicates producers aren’t holding heifers back.