Market News & Headlines >> U.S. Hog Herd Seen Down Slightly Again

Wednesday afternoon’s quarterly USDA Hogs and Pigs report is expected to show further modest liquidation of the U.S. hog herd with producers facing continued high costs for feed and other inputs as well as demand uncertainty.

Pre-report trade estimates of the total U.S. hog herd as of June 1 average 99.3% of a year earlier in a range from 98.4%-99.8%, according to a survey of six livestock analysts by Bloomberg News. At the average of expectations, the hog herd would total 72.604 million head, down 549,000 head from a year earlier.

Trade expectation for the June 1 breeding herd average 98.9% of a year earlier in a range from 98.2%-99.6%. At the average of trade expectations, the breeding herd would total 6.150 million head, down 70,000 from a year earlier.

Pre-report expectations for the June 1 market hog inventory average 99.3% in a range from 98.4%-99.9%. At the average of trade expectations, the market hog inventory would total 66.453 million head, down 480,000 head from a year earlier.

The March-May pig crop is expected to come in slightly below a year earlier on reduced farrowings. Pre-report expectations for the quarterly pig crop average 99.1% of a year earlier in a range from 98.4%-100.4%. Trade estimates of March-May farrowings average 98.6% in a range from 98.4%-98.9%. Expectations for the number of pigs per litter average 100.5% of a year earlier.

Producer farrowing intentions for June-August and September-November are expected to be marginally smaller than a year earlier. Trade estimates of June-August farrowing intentions average 99.4% of a year earlier, while estimates of September-November intentions average 99.7%