U.S. hog and pigs inventory lowest since 2007

U.S. hog and pigs inventory lowest since 2007

USDA report bearish for hog market, friendly for corn

As of March 1, there were 62.9 million head of 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).

Other key findings in the report were:

  • Of the 62.9 million head of hogs and pigs, 57.0 million were market hogs, while 5.85 million were slated for breeding.
  • Between December 2013 and February 2014, 27.3 million pigs were born on U.S. farms, down 3 percent from the same time period in 2013.
  • U.S. hog producers intend to have 2.88 million sows farrow between March and May 2014, and 2.96 million sows farrow between June and August 2014.
  • On average, 9.53 pigs were born per litter from December 2013 through February 2014.
  • With 19.8 million head, Iowa hog producers had the largest inventory among the states. North Carolina and Minnesota had the second and third largest inventories with 8 million and 7.8 million head respectively.
  • While the national hogs and pigs inventory decreased since March 2013, growers in South Dakota, Minnesota and Nebraska increased the number of hogs and pigs in their states.

Market Notes:  Pre-report projections were conservatively estimated at average 5.5% lower for total hog herd from last year. The USDA report was 3.3% less than 2013 as of March 1.  Therefore the report is viewed bearish for the hog market and friendly for the corn markets.

Many market analysts concluded the report is unrealistically portraying the PEDV impact on future pork supplies.

Steve Meyer and Len Steiner, authors of Daily Livestock Report said, “depending on how individual producers filled out the USDA survey, the extent of the death losses may not be completely reflected in pig numbers.”

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