U.S. Hog and Pigs inventory down 5%

U.S. Hog and Pigs inventory down 5%

USDA estimates lower than traders anticipate, rally in the hog markets next week predicted.

 

As of June 1, there were 62.1 million hogs and pigs on U.S. farms, the lowest inventory since 2007, according to the Quarterly Hogs and Pigs report published today by the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS).

Looking closer at the breakdown of the total inventory, 56.3 million were market hogs, while 5.85 million were kept for breeding.

A total of 27.4 million pigs were weaned on U.S. farms between March and May 2014, down 5% from the same time period in 2013. In addition, an average of 9.78 pigs per litter were weaned.

While the national hogs and pigs inventory decreased since June 2013, growers in Texas, South Dakota and Michigan increased the number of hogs and pigs in their states.

Also, Iowa hog producers had the largest inventory among the states with 19.2 million head. Minnesota and North Carolina had the second and third largest inventories with 7.8 million and 7.7 million head respectively.

Moreover, U.S. hog producers intend to have 2.89 million sows farrow between June and August 2014, and 2.88 million sows farrow between September and November 2014.

The USDA estimates come in lower than market participants expected -especially for pigs under 50lb.  Market analysts are reporting the lower numbers are prompting talks of limit up for the hog market next week.

USDA Quarterly Hogs & Pigs

LMIC

Urner Barry

USDA

Estimates

 

2014 as % of 2013

2014 as% of 2013

2014 as% of 2013

All hogs and pigs Jun 1

98.5

97

95

Kept for breeding

101.8

101.6

100

Kept for marketing

98.2

96.6

95

       

Mar-May pig crop

99.9

97.7

95

Mar-May pigs per litter

98.0

95.2

95

Mar-May farrowings

101.9

102.5

100

Jun-Aug farrowings

102.2

102.1

100

Sep-Nov farrowing intentions

102.7

102.6

104

       

Hogs weighing under 50 lbs

100.4

98.1

94

Hogs weighing 50-119 lbs

97.2

96.3

94

Hogs weighing 120-179 lbs

96.7

95.3

96

Hogs weighing 180 and over

97.5

96.4

96

Source Livestock Marketing Information Center, Urner Barry survey of analysts results average and USDA NASS

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