USDA June 1 Hogs and Pigs Report

US June 1 Hog Inventory Down 1% From Year Ago

USDA released its June 1 Quarterly Hogs and Pigs report on Wednesday. (DTN file photo)

This article was originally posted at 2:09 p.m. on Wednesday, June 29. It was last updated with additional information at 2:45 p.m. on Wednesday, June 29.

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OMAHA (DTN) -- United States inventory of all hogs and pigs on June 1, 2022, was 72.5 million head. This was down 1% from June 1, 2021, and down slightly from March 1, 2022, USDA NASS reported on Wednesday.

Breeding inventory, at 6.17 million head, was down 1% from last year, but up 1% from the previous quarter.

Market hog inventory, at 66.4 million head, was down 1% from last year, and down slightly from last quarter.

The March-May 2022 pig crop, at 32.9 million head, was down 1% from 2021. Sows farrowing during this period totaled 2.99 million head, down 1% from 2021. The sows farrowed during this quarter represented 49% of the breeding herd. The average pigs saved per litter was 11.00 for the March-May period, compared to 10.95 last year.

United States hog producers intend to have 3.02 million sows farrow during the June-August 2022 quarter, down 1% from the actual farrowings during the same period one year earlier, and down 7% from the same period two years earlier. Intended farrowings for September-November 2022, at 3.01 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 50% of the total United States hog inventory, up 1% from the previous year.

Revisions: All inventory and pig crop estimates for June 2021 through March 2022 were reviewed using final pig crop, official slaughter, death loss, and updated import and export data. The revision made to the March 2022 all hogs and pigs inventory was 0.6%. The revision made to the December 2021-February 2022 pig crop was 0.4%. The net revision made to the December 2021 all hogs and pigs inventory was 0.3%. A net revision of 1.2% was made to the September-November 2021 pig crop.

DTN ANALYSIS

"The latest USDA Quarterly Hogs and Pigs report comes as a neutral report for the market, as trade estimates were nearly spot-on in projecting what the report would unveil," said DTN Livestock Analyst ShayLe Stewart. "Given that the industry has recently struggled with throughput and domestic pork demand, seeing slightly lower U.S. hog inventory numbers is relieving. The market's June 1 inventory totaled 72,524 million head, which was down 1% from a year ago and down just slightly from the previous quarter and is the lowest inventory that the nation has seen since 2018.

"Currently, the deferred contracts of December 2022 and February 2023 are seeing the biggest discounts, as demand remains a questionable variable in today's market. Seeing the market hogs and pigs by weight groups all falling by exactly 1% lower than a year ago is mixed news: Yes, numbers are slightly lower, but to process that many hogs and not see prices suffer, the market will need to see stronger domestic and international demand. But given that U.S. hog prices remain substantially higher than other exporting countries, our export opportunities are limited."

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

2021 2022 2022 as percent of 2021
(1,000 head) (1,000 head) (percent)
All Hogs June 1 73,153 72,524 99%
Kept for Breeding 6,220 6,168 99%
Kept for Marketing 66,933 66,356 99%
WEIGHT BREAKDOWN
Under 50 lbs. 21,354 21,083 99%
50-119 lbs. 18,919 18,811 99%
120-179 lbs. 13,830 13,737 99%
180 lbs. and over 12,829 12,725 99%
FARROWINGS/INTENTIONS*
March-May 3,034 2,992 99%
Jun-Aug * 3,050 3,019 99%
Sep-Nov * 3,049 3,007 99%
Mar-May Pig Crop 33,233 32,905 99%
(number) (number) (percent)
Mar-May Pigs Per Litter 10.95 11.00 100%