News

USDA: hog inventory climbs 3% on quarter, year

The USDA says there were a record number of hogs and pigs on September 1st. At 77.678 million head, that’s up 3% on the quarter and the year, including a 2% year to year increase in the breeding herd to 6.431 million and a 4% jump for market hogs to 71.248 million head. By weight, market hogs weighing less than 50 pounds were 22.616 million head and the 50 to 119 pound category was 20.849 million, both 2% higher, while the 120 to 179 category was 14.814 million head and the 180 pound and heavier herd was 12.969 million head, 5% and 6% higher, respectively.

The June to August pig crop was a new all-time high for the quarter at 35.306 million head, an increase of 3%, with a record average pigs per litter at 11.11, even with a 1% decline in the number of sows farrowed at 3.179 million head.

The herd might shrink, with September 2019 to February 2020 farrowing intentions expected to be down on the year.

Overall, the numbers were generally above pre-report estimates and look neutral to bearish for cash, wholesale, and futures, depending on pork demand.