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Hard to find the positive in ‘Hogs & Pigs’

Demand will be key to situation as well as how well backlog can be absorbed.

The U.S. Department of Agriculture released the quarterly “Hogs & Pigs” report Thursday, showing much larger numbers than anticipated. According to the report, the inventory of all hogs and pigs on June 1, 2020, was record large, at 79.6 million head, a 5% increase from the same period last year and a 3% increase from March 1, 2020. The average pre-report estimate for the total inventory was for a 4% increase.

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