USDA’s Quarterly Hogs and Pigs Report shows a slightly larger than expected inventory.
As of September 1, all hogs and pigs in the U.S. were 68.360 million head, up modestly from the 68.172 million a year ago, when most analysts were anticipating a decline. The breeding herd came out at 5.814 million head, also up slightly on the year, and at the low end of pre-report estimates. The market hog inventory was reported at 62.546 million head, a little bit more than this time last year, and above what the trade was projecting.
The three lighter weight classifications increased 1%, but the heavy weight category was down 4%. By weight, the under 50 pound herd was 20.085 million head and the 50 to 119 pound category was 18.087 million head, while the 120 to 179 pounders were 13.284 million head and the 180 pound and over category was 11.090 million head.
The June to August pig crop was 30.210 million head, 2% above a year ago, with sow farrowings at 2.925 million head, down slightly, with the average pigs per litter a record high for the period at 10.33 head.
September through November farrowing intentions are projected at 2.900 million head, a little more than last year, and December through February intentions are seen at 2.870 million head, which would be a 1% increase.
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