The U.S. Meat Export Federation Spring Conference took place last week in Fort Worth, Texas. Keynote speaker Randy Blach, CEO of CattleFax, said the cattle herd rebuilding may finally be gaining traction.

“We’re still in tight fed cattle supplies. We’ve got more hooks than we have cattle to fill those hooks, and we see that not only at the fed cattle level but also at the non-fed level as well. So, non-fed slaughter, non-fed cow, and bull slaughter have declined significantly, as you would expect. So, we’re stabilizing the herd from a lack of harvest of the cows.”

Blach added he is seeing an expansion of the herd, but it’s just happening gradually and slowly.

“It does look like when we look back, January of 2025 will be the low in the beef cow herd. So, as I look at the numbers out here, I think it’s important that people recognize that our per capita beef supplies are pretty flat. They haven’t changed much. This price increase that we’re experiencing in the industry is demand-driven. Beef demand is at a 37-year high, and I think when people think about demand, obviously quality has been the key to that. We’ve seen the quality of the animals being produced has increased substantially.”