Livestock Marketing Information Center
In The Cattle Markets
Updated: 3/23/2026
Supply and Demand for Summer Beef and Cattle Markets
Recent “In the Cattle Markets” articles have focused on trade, demand, and beef production. To continue the theme of the various links in the beef supply chain, this article will focus on cattle availability and where market conditions could be headed as we move into spring and eventually the summer grilling season when seasonal demand for beef typically peaks.
Livestock Monitor
Updated: 3/13/2026
MARGINAL INCREASE IN MARCH HOG INVENTORY
The March Hogs and Pigs report noted a marginal increase (+0.4%) of 323 thousand head for all hogs and pigs to just over 74.3 million head. This was within the range of pre-report estimates from +0.1% to +1.5%, but slightly above the average estimate of +0.9%. Market hogs were up slightly (+0.6%) or about 412 thousand head to more than 68.4 million head, which was within the range of pre-reported estimates (+0.1% to +1.7%) but slightly below the average estimate (+1%).
COLD STORAGE STOCKS LOWER IN FEBRUARY
Cold storage stocks for the month of February posted declines from a year ago for both red meat and poultry, signaling a tightening in meat protein supplies. Total red meat stocks in February were reported down 45.1 million pounds (-5%) from last year to 834.5 million pounds. Total beef in cold storage was reported at 413.3 million pounds in February, down 22.6 million pounds (-5%). The decline was due mainly to a 23.4 million pound (-6%) decrease in boneless beef stocks to 374.7 million pounds in February. Beef cuts were up 862 thousand pounds (+2%) in February to 38.6 million pounds. Lamb and mutton stocks were reported at 16.9 million pounds in February, down 2.6 million pounds (-13%) from last year.
DAIRY HERD COUNT TOPS 9.6 MILLION HEAD, HIGHEST SINCE 1993
The February dairy herd tally was 9.615 million head, up 15,000 from January and 211,000 more than 12 months earlier. This is the largest US dairy herd since January-March 1993 when the dairy herd stood at 9.632 million head. At that time, the dairy industry was in liquidation mode, and the herd would continue to shrink until 1999, when dairy cow numbers would stabilize at 9.1 million head. In 1993, Wisconsin had the most dairy cows (about 1.6 million) versus slightly less than 1.3 million now. California had the second-most dairy cows with 1.2 million dairy cows. California has 1.7 million dairy cows now.
Livestock Monitor (pdf)