Market News & Headlines >> June 1 Hog Herd Record Large

Friday’s USDA quarterly Hogs and Pigs report had a moderately bearish look as it pegged the total U.S. hog herd as of June 1 at record levels and toward the high end of the range of pre-report trade estimates on a larger-than-expected March-May pig crop. 

USDA pegged all hogs and pigs as of June 1 at 63.381 million head or 101.8% of  a year earlier, compared with trade estimates that averaged 100.8% of a year earlier in a  range from 100.1%-102.1%. The number of hogs kept for marketing was pegged at 61.494 million head or 101.8% of a year earlier, versus pre-report estimates averaging 100.8% in a range from 100.1%-102.1%. 

USDA put the number of hogs kept for breeding purposes at 100.9% of a year earlier, against trade estimates that averaged 100.4% in a range from 99.7%-101.6%.   

The March-May pig crop ran 102.5% of a year earlier, according to USDA, topping trade estimates that averaged 100.6% of a year earlier, in a range from 99.6-101.0%.  March-May farrowings ran 101.5% of a year earlier, above expectations that averaged 99.7% in a range from 99.5%-100.0% and March-May farrowing intentions of 99.5% reported by USDA in March. At 10.48, the number of pigs per litter was 101.1% of a year earlier, compared with trade estimates averaging 100.9% in a range from 100.1-101.4%. 

According to USDA, U.S. hog producers intend to farrow 2.949 million sows in during June-August, 97.7% of a year earlier, closely in line with trade expectations that averaged 97.8%. USDA put September-November farrowing intentions at 98.9% of a year earlier, below pre-report expectations that averaged 100.6%.