Drought and pasture conditions have improved from the previous month, but the situation is still very poor compared to last year and previous years. 

Month after month this year, feedlots have maintained large numbers of cattle on feed relative to history as more calves are being pushed into feedlots at a quicker-than-normal pace due to the drought impact on forage availability.

Year-to-date U.S. cattle imports total 951,910 head, down 6.3% year over year. Total cattle exports thus far in 2022 are 192,415 head, down 36.7% from the record cattle export total last year.

The U.S. beef export market has shown that it will continue to expand, even if export access is lost to key countries.

Aided and abetted by the drought, feedlots put together another month of large placements in July.

On July 22, the USDA National Agricultural Statistics Service (NASS) released the midyear Cattle report. It provided a snapshot of the U.S. cattle herd, which includes both beef and dairy cattle as well as a glimpse into producers’ outlook for retaining heifers and the availability of cattle for placement in the coming year.

At the close of the year’s second quarter, beef cattle producers continue to cull a large portion of their breeding herds, as shown in Figure 1 of weekly volumes of federally inspected beef cow slaughter for the previous three years.