NASHVILLE, TN – The USDA’s July Cattle Inventory report shows the nation’s cattle herd is still shrinking. As of July 1, 2025, there were 94.2 million head of cattle and calves in the U.S.—down 1 percent from July 1, 2023. That total includes 38.1 million cows and heifers that have calved, also 1 percent lower. Beef cows dropped to 28.7 million head, while milk cows increased slightly to 9.45 million.
Heifers weighing 500 pounds or more totaled 14.6 million head, down 2 percent from two years ago. The report shows 3.7 million beef replacement heifers, a 3 percent decline, and 3.5 million milk replacements, unchanged from 2023. Steers over 500 pounds totaled 13.8 million head, down 1 percent, while calves under 500 pounds fell 2 percent to 25.8 million.
Cattle on feed across all U.S. feedlots stood at 13.0 million head, 1 percent below the 2023 figure. The 2025 calf crop is expected to total 33.1 million head, also down 1 percent. Calves born in the first half of the year are estimated at 24.3 million.
The USDA’s figures landed near the lower end of pre-report trade estimates, which had projected modest declines. The data suggests continued tightening of cattle supplies into 2026.