WASHINGTON, D.C. – The latest combined U.S. and Canadian cattle and hogs looks supportive for cash business, having become tighter with drought in the cattle business and a cut in production by U.S. hog producers in efforts to improve their bottom line.
According to the USDA and Statistics Canada, the combined cattle herd on July 1st was 111.09 million head, down 2% on the year, with all cows and heifers that have calved falling 2%. That included a 2% decline in the U.S. to 98.8 million head and a 3% decrease in Canada at 12.29 million head.
The combined hog herd on June 1st was 86.454 million head, 1% less than last year, with the U.S. inventory 1% lower at 75.524 million and Canada down 2% to 13.93 million head and both nations reporting smaller pig crops and reduced farrowings.
Overall improvement for cash trade will depend on beef and pork demand and input costs, especially feed prices.