Market News & Headlines >> USDA Expected to Report Larger Hog Herd
Monday afternoon’s quarterly Hogs and Pigs report from USDA is expected to show the Dec. 1 hog herd 3.0% above a year earlier and indicate that moderate herd expansion continues amid expectations for strong Chinese demand for pork imports.
Trade expectations for the Dec. 1 U.S. hog herd average 103% of a year earlier in a range from 102.0%-103.5%, according to a survey of nine analysts by Bloomberg News. At the average of trade estimates the U.S. hog herd would total 77.146 million head, 2.231 million head above a year earlier.
Pre-report estimates of the breeding herd average 101.6% of a year earlier in a range from 100.5%-102.8%, while estimates of the Dec. 1 market hog inventory average 103.1% in a range from 102.1%-103.6%. At the average of trade estimates, the market hog inventory would total 70.701 million head, 2.111 million head above a year earlier.
USDA is expected to report that recent strong gains in breeding efficiency continued this fall. Pre-report expectations for September-November pig crop average 102.9% of a year earlier in a range from 101.6%-104.2%. Estimates of September-November farrowings average 100.0% of a year earlier, while estimates of the number of pigs per litter average 102.9% of a year earlier.
Trade expectations for December-February farrowing intentions average 100.5% of a year earlier, while expectations for March-May farrowings average 101.1%