The lowest since the 1950’s and keeps declining.
Check it out:

The July 1 Cattle report from USDA, released on Friday, July 25, shows reductions in almost all classes of cattle since the last mid-year report issued in July 2012. Last year, USDA did not issue a July Cattle report due to the sequestration that temporarily reduced funding for federal government agencies.

Compared with July 1, 2012:

All cattle and calves in the United States, at 95 million head, are down 3 percent from 97.8 million.
Cows and heifers that have calved, at 39 million, are down 2 percent.
Beef cows, at 29.7 million, are down 3 percent.
Milk cows, at 9.3 million, up 1 percent.
All heifers weighing 500 pounds and over, at 14.9 million, are down 5 percent.
Beef replacement heifers, at 4.1 million, are down 2 percent.
Milk replacement heifers are down 5 percent at 3.9 million head.
Other heifers, at 6.9 million, are down 7 percent.
Steers weighing 500 pounds and over are down 4 percent at13.5 million head.