US hog inventory up 1% - AFBF
Breeding inventory at 6.01 million head
28 August 2024
1 minute read
By: USDA’s Quarterly Hogs and Pigs report, released on June 27, contained some important data relating to the US hog inventory, according to a recent market report from Bernt Nelson at the American Farm Bureau Federation. According to the USDA report, the inventory of all hogs and pigs was 74.5 million head, up 1% from June 2023, he said.
The breeding inventory was 6.01 million head, down 3% from last year. Market hogs were 68.5 million head, up 2% from last year.
Much like the calf crop supplies cattle for the next year, the pig crop in the first half of the year supplies hogs for the second half. The March through May pig crop was 34 million, up 2% from last year, bringing the average pigs saved per litter to 11.56, which is the third-highest average in survey history.
When combined with the December through February pig crop and the slightly higher-than-expected weights from lower feed costs, USDA estimates 2024 pork production at 28 billion pounds, about 3% more than 2023. Increased production is bearish news, especially for the cutout, and could bring lower hog prices for farmers in the second half of 2024.
