Market News & Headlines >> U.S. Hog Herd Seen Slightly Below Last Year

USDA’s latest quarterly Hogs and Pigs report, due out Thursday afternoon is expected to show the U.S. hog herd shrank a bit further this summer as concerns about high grain prices kept producers defensive despite several months of profitable returns.  

Trade estimates of the total U.S. hog herd average 99.2% of a year earlier in a narrow range from 98.8-99.6%, according to a Bloomberg News survey of seven livestock analysts.

Pre-report estimates of the number of hogs kept for breeding purposes average 99.5% in a range from 99.0-100.5%, while estimates of the Sept. 1 market hog inventory average 99.1% in a range from 98.7%-99.5%.

The June-August pig crop is expected on average to come in at 99.5% of a year earlier, with trade estimates ranging from 99.0%-100.2% of a year earlier, with estimates of June-August farrowings averaging 99.2% of a year earlier and estimates of the number of pigs per litter averaging 100.3% of a year earlier.

Hog producers are expected to stay cautious about expanding their hog herds in coming months due to amid high feed costs and rising interest rates. Trade expectations for September-November farrowing intentions average 98.9% of a year earlier, with expectations for December-February farrowing intentions averaging 100.4%.