Hogs and pigs numbers near expectations
USDA’s quarterly hogs and pigs update came out near pre-report expectations. Allendale Inc.’s David Kohli tells Brownfield the numbers look neutral to negative, adding he didn’t see the liquidation he was looking for and what liquidation he did see was skewed “because of the fact that the deferred hogs have such a premium to the nearbys, encouraging producers to keep their supplies.”
The total number of hogs and pigs in the U.S. as of June 1 was down 2% on the year with the breeding herd 3% lower and market hogs down 2%. Most of the weight breakdowns were down 2% from a year ago but the 180 pound and over herd was unchanged. The March to May pig crop was steady with last year and March to May pigs per litter were up 2% from a year ago.