Market News & Headlines >> Hog Herd Seen Up nearly 3% over last year
Friday’s quarterly USDA Hogs and Pigs report is expected to show that U.S. hog producers continued to expand their herd during the June-August period and plan to expand further in coming months.
Trade estimates of the Sept. 1 U.S. hog herd average 102.9% of a year earlier in a range from 101.4%-103.9%, according to a survey of 10 analysts by Bloomberg News. At the average of estimates, the hog herd would be 77.285 million head, 2.149 million head larger than a year earlier.
Expectations for the supply of hogs kept for breeding average 101.4% of a year earlier in a range from 100.9%-101.8% of a year earlier, while expectations for the Sept 1 market hog inventory average 103.1% in a range from 101.4%-104.1%. At the average of trade estimates, the breeding herd would total 6.420 million head, 90,000 above a year earlier, while the Sept. 1 market hog inventory would total 70.905 million head, 2.099 million above a year earlier.
Pre-report estimates of the June-August pig crop average 102.4% of a year earlier in a range from 101.1%-103.6%, with expectations for June-August farrowings averaging 100.3% of a year earlier in a range from 99.5%-101.5% and estimates of the number of pigs per litter averaging 102.4% in a range from 101.2%-104.1%.
The report is expected to indicate that herd expansion will continue through early next year. Estimates of September-November farrowing intentions average 100.7% of a year earlier, while estimates of December-February farrowing intentions average 100.8%.