Market News & Headlines >> USDA Expected to Report Moderate Hog Herd Expansion
The livestock trade is expecting Thursday’s quarterly USDA Hogs and Pigs report to show continued moderate expansion of the U.S. hog herd amid relatively low feed costs and rising demand.
Pre-report trade estimates of the total June 1 U.S. hog herd average 102.9% of a year earlier in a narrow range from 102.6%-103.1%, according to a survey of seven analysts by Bloomberg.
Expectations for the June 1 market hog inventory average 103.0% of a year earlier in a arrange from 102.8%-103.4%, while expectations for the breeding herd average 101.6% of a year earlier in a range from 101.0%-102.1%.
Trade estimates of the March-May pig crop average 103.3% of a year earlier in a range from 102.0%-104.3%. On average, March-May sow farrowings are expected to run 101.8% of a year earlier, with estimates ranging from 100.0%-102.2%, while forecasts of the number of pigs per litter average 101.3% of a year earlier in a range from 100.9%-102.1%.
Estimates of producers’ June-August farrowing intentions average 101.0% of a year earlier in a range from 99.0%-102.2%, while estimates of September-November farrowing intentions average 100.9% in a range from 99.0%-101.8%.