USDA June 1 Hogs and Pigs Report

By DTN Staff

This article was originally posted at 2:09 p.m. on Thursday, June 27. It was updated with additional DTN analysis at 2:39 p.m. on Thursday, June 27.

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OMAHA (DTN) -- United States inventory of all hogs and pigs on June 1, 2024, was 74.5 million head. This was up 1% from June 1, 2023, and up slightly from March 1, 2024, USDA NASS reported on Thursday.

Breeding inventory, at 6.01 million head, was down 3% from last year, and down slightly from the previous quarter.

Market hog inventory, at 68.5 million head, was up 2% from last year, and up slightly from last quarter.

The March-May 2024 pig crop, at 34.0 million head, was up 2% from 2023. Sows farrowing during this period totaled 2.94 million head, up slightly from 2023. The sows farrowed during this quarter represented 49% of the breeding herd. The average pigs saved per litter was 11.56 for the March-May period, compared to 11.36 last year.

United States hog producers intend to have 2.96 million sows farrow during the June-August 2024 quarter, down 3% from the actual farrowings during the same period one year earlier, and down 4% from the same period two years earlier. Intended farrowings for September-November 2024, at 2.94 million sows, are down 1% from the same period one year earlier, and down 5% from the same period two years earlier.

The total number of hogs under contract owned by operations with over 5,000 head, but raised by contractees, accounted for 52% of the total United States hog inventory, up 1% from the previous year.

REVISIONS

All inventory and pig crop estimates for June 2023 through March 2024 were reviewed using final pig crop, official slaughter, death loss, and updated import and export data. The revision made to the March 2024 all hogs and pigs inventory was 0.3%. The net revision made to the December 2023 all hogs and pigs inventory was 0.7%. A net revision of 0.2% was made to the September 2023-November 2023 pig crop.

DTN ANALYSIS

"Thursday's Hogs and Pigs report didn't share any earthshattering or bewildering news, but it was interesting to note the increase in market hog inventory," said DTN Livestock Analyst ShayLe Stewart.

"Market hog inventory totaled 68.5 million head, which is up 2% from a year ago. This may seem odd given that the breeding inventory is down 3% from a year ago at 6.01 million head -- but the increase in pigs per litter is outweighing the decrease in sows, currently.

"Market hogs weighing under 50 pounds and market hogs weighing 50 to 119 pounds were both up 1% from a year ago, but the heavier weight groups, those weighing 120 to 179 pounds and those weighing 180 pounds and more, were both up 2% from a year ago.

"The additional increase in supply could pressure pork prices but help drive demand if consumers are looking for a more affordable protein? Time will tell. But given the added increase in marketing supplies, the report will likely be found as neutral to slightly bearish, as the increase in marketing numbers will likely affect overall pork prices."

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To view the full Quarterly Hogs and Pigs report, visit https://www.nass.usda.gov/…

	2023	2024	2024 as percent of 2023
	(1,000 head)	(1,000 head)	(percent)
All Hogs June 1	73,551	74,486	101%
Kept for Breeding	6,206	6,008	97%
Kept for Marketing	67,345	68,479	102%
WEIGHT BREAKDOWN
Under 50 lbs.	21,284	21,589	101%
50-119 lbs.	18,982	19,208	101%
120-179 lbs.	14,344	14,630	102%
180 lbs. and over	12,735	13,052	102%
FARROWINGS/INTENTIONS*
March-May	2,941	2,944	100%
Jun-Aug *	3,040	2,963	97%
Sep-Nov *	2,962	2,945	99%
Mar-May Pig Crop	33,414	34,021	102%
	(number)	(number)	(percent)
Mar-May Pigs Per Litter	11.36	11.56	102%

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