USDA's March "Quarterly Hogs and Pigs" report this week surprised the trade, coming in lower than the majority of pre-report analyst estimates.
The report showed on March 1, 2021:
- Inventory of all hogs and pigs was 74.8 million, down 2% from March 1, 2020 and down 3% from Dec. 1, 2020.
- Breeding inventory, at 6.21 million head was down 3% from last year and down 1% from the previous quarter.
- Market hog inventory, at 68.6 million head was down 2% from March 1, 2020 and down 3% Dec. 1, 2020.
Guest analysts Dr. Steve Meyer, Dr. James Mintert, Joe Kerns and Daniel Bluntzer joined the Pork Checkoff to provide expert analysis on the numbers and what's ahead for the industry. The full recording is available below.