USDA Hogs & Pigs: US hog inventory up 1%

Analysts say the quarterly Hogs & Pigs Report is neutral to bearish near-term

29 March 2024

2 minute read

By: Sarah Mikesell

North America

National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA) released its Hogs & Pigs Report on March 28, 2024.

United States inventory of all hogs and pigs on March 1, 2024 was 74.6 million head. This was up 1% from March 1, 2023, but down 2% from December 1, 2023.

Breeding inventory, at 6.02 million head, was down 2% from last year, but up slightly from the previous quarter.

Market hog inventory, at 68.6 million head, was up 1% from last year, but down 2% from last quarter.

The December 2023-February 2024 pig crop, at 33.1 million head, was up 2% from last year. Sows farrowing during this period totaled 2.88 million head, down 3% from previous year. The sows farrowed during this quarter represented 48% of the breeding herd. The average pigs saved per litter was 11.53 for the December 2023-February 2024 period, compared to 11.02 last year.

US hog producers intend to have 2.92 million sows farrow during the March-May 2024 quarter, down 1% from the actual farrowings during the same period one year earlier, and down 2% from the same period two years earlier. Intended farrowings for June-August 2024, at 2.99 million sows, are down 2% from the same period one year earlier, and down 3% from the same period two years earlier.

The total number of hogs under contract owned by operations with over 5,000 head, but raised by contractees, accounted for 52% of the total United States hog inventory, up 1% from the previous year.

Revisions

All inventory and pig crop estimates for March 2023 through December 2023 were reviewed using final pig crop, official slaughter, death loss, and updated import and export data. The revision made to the December 2023 all hogs and pigs inventory was 1.1%. A revision of 0.5% was made to the September 2023-November 2023 pig crop. The net revision made to the September 2023 all hogs and pigs inventory was 2.4%. A net revision of 3.1% was made to the June-August 2023 pig crop.

Read the full report here.

Sarah Mikesell

Editor

Sarah Mikesell grew up on a five-generation family farming operation in Ohio, USA, where her family still farms. She feels extraordinarily lucky to get to do what she loves - write about livestock and crop agriculture. You can find her on Twitter or LinkedIn.