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USDA expects slight increase in hog production in 2023
The U.S. hog herd has gotten smaller, but the report suggests there could be some production growth in 2023.
The USDA says there were 73.1 million hogs and pigs in the U.S. on December 1st, 2022, down 1% from September 1st, but down 2 percent from December 1st, 2021.
Breeding inventory was up slightly from 2021 and the previous quarter at 6.15 million head.
The market hog inventory was down 1 percent from the last quarter and down 2 percent on the year.
Iowa had the largest herd at 23.6 million head, followed by Minnesota at 8.6 million and North Carolina at 8.2 million.
Farrowing intentions for December through February are expected to increase 1% year-over-year, with intentions for March 2023 through May 2023 are projected to increase slightly form the same period one year ago.
The numbers look friendly for nearby hog and pork prices, but could prices could see more pressure in 2023.
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