The USDA’s March 1 Hogs and Pigs report painted a mixed picture of the U.S. hog sector, with the breeding herd coming in tighter than expected while market hog numbers were roughly in line with trade guesses.
Released Thursday, the report pegged the U.S. inventory of all hogs and pigs on March 1 at 74.3 million head, up just slightly from a year earlier but down 1% from Dec. 1. Pre-report estimates had the total herd up nearly 1% on the year.
The USDA put breeding inventory at 5.89 million head, down 1% from a year earlier and below the average trade guess. Market hog inventory, at 68.4 million head, was up 1% from a year ago, matching the average pre-report estimate almost exactly.
The December-through-February pig crop totaled 33.2 million head, up 1% from a year earlier. That was below the average trade guess of a 2% increase. Sows farrowing during the quarter were down 1% from a year earlier, but pigs saved per litter rose to 11.9 from 11.65 last year, showing continued efficiency gains.
Looking ahead, producers intend to farrow 2.86 million sows in March through May, up slightly from a year ago, and 2.90 million in June through August, down 2% from last year.
Taken together, the report suggested a hog sector that remains productive, but with less breeding herd expansion than expected.
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