In the Cattle Markets
Fewer heifers on feed, but fewer steers, too.
February 4, 2026
by David Anderson, Texas A&M University
USDA’s Cattle on Feed report released Friday, Jan. 23, 2026, didn’t contain any real surprises. The most interesting number in the report was the number of heifers on feed and its implications for herd rebuilding.
Heifers on feed totaled 4.435 million head, down 140,000 head from last Jan. 1. The 140,000-head decline amounted to a 3.1% decline from a year ago. The number of steers on feed also declined by 3.2%. That left the number of heifers on feed as a percent of total on feed at 38.73%, hardly different from last year’s 38.70%. It was the fewest Jan. 1 heifers on feed since 2019.
Arizona, Colorado, Oklahoma and Texas had fewer heifers on feed, with Colorado having the largest decline of 85,000 head, followed by Texas, down 55,000 head. Other states either reported no change or, in the case of Nebraska, 10,000 more heifers on feed.
Spayed heifers imported from Mexico contribute to the total number of heifers on feed. The January Cattle on Feed report is the first full month of comparison to a year ago, with no cattle imports in either month. Approximately 145,000 fewer spayed heifers were imported from Mexico in the months leading up to Jan. 1, 2026, compared to Jan. 1, 2025. So, the decline in heifers on feed could largely reflect fewer imports rather than a significant decline in domestic heifer feeders being placed.
The decline in heifers on feed could largely reflect fewer imports rather than a significant decline in domestic heifer feeders being placed.
While the decline in heifers on feed suggests some more herd retention, the reduction in supplies from Mexico and heifers as a percent of all cattle on feed indicates little herd rebuilding from additional heifer retention.
The rest of the report did not differ much from expectations. Marketings were up about 2%, but with one more slaughter day during December, daily average marketings were below a year ago. Placements were 5.4% below a year ago. The total number of cattle on feed was down 3.2% a year ago. Supplies continue to tighten for months and years to come.
The markets
The first real winter storm for many will bring some market volatility from both the supply and demand side as cattle movements to packers and beef shipments are interrupted, and many consumers are staying in due to the cold, ice and snow. But the storm-induced volatility will be short-lived. Effects on live and dressed weights may last longer, cutting into beef production in the coming weeks. Local auction markets may see some significant disruption this week.
Editor’s note: David Anderson is professor and extension specialist in livestock and food product marketing in the Department of Agricultural Economics at Texas A&M University. Reprinted with permission from the Livestock Marketing Information Center at https://lmic.info.
Angus Beef Bulletin EXTRA, Vol. 18, No. 2-A
Topics: Marketing , Management , Genetics , Feedyard
Publication: Angus Beef Bulletin
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