USDA Dec. 1 Hogs and Pigs Report

By DTN Staff

This article was originally posted at 2:10 p.m. CST on Monday, Dec. 23. It was last updated with new information at 2:49 p.m. CST on Monday, Dec. 23.

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OMAHA (DTN) -- United States inventory of all hogs and pigs on Dec. 1, 2024, was 75.8 million head. This was up 1% from Dec. 1, 2023, but down slightly from Sept. 1, 2024, USDA NASS reported on Monday.

Breeding inventory, at 6.00 million head, was up slightly from last year, but down 1% from the previous quarter.

Market hog inventory, at 69.8 million head, was up 1% from last year, but down slightly from last quarter.

The September-November 2024 pig crop, at 35.2 million head, was up 2% from 2023. Sows farrowing during this period totaled 2.96 million head, down slightly from 2023. The sows farrowed during this quarter represented 49% of the breeding herd. The average pigs saved per litter was 11.92 for the September-November period, compared to 11.66 last year.

United States hog producers intend to have 2.93 million sows farrow during the December 2024-February 2025 quarter, up slightly from the actual farrowings during the same period one year earlier, but down 1% from the same period two years earlier. Intended farrowings for March-May 2025, at 2.95 million sows, are up 1% from the same period one year earlier, and up slightly 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, down 1% from the previous year.

REVISIONS

All inventory and pig crop estimates for December 2022 through September 2024 were reviewed using final pig crop, official slaughter, death loss, and updated import and export data. The revision made to the September 2024 all hogs and pigs inventory was 0.5%. A revision of 1.2% was made to the June-August 2024 pig crop. The net revision made to the June 2024 all hogs and pigs inventory was 0.4%. A net revision of 1.1% was made to the March-May 2024 pig crop. The net revision made to the September 2023 all hogs and pigs inventory was 2.2%. A net revision of 2.6% was made to the June-August 2023 pig crop.

DTN ANALYSIS

"The biggest takeaway from Monday's Quarterly Hogs and Pigs report is that with the recent decline in slaughter speeds, there are more total hogs in Monday's report than a year ago," said DTN Livestock Analyst ShayLe Stewart. "But, thankfully, from a supply and demand perspective, in terms of timing, it was somewhat relieving to see that there was a slight decline in the number of hogs weighing 180 pounds and more and of those weighing 120 to 179 pounds compared to a year ago, as both weight divisions were down 1% from a year ago. But for the lighter weight divisions of hogs, those weighing under 50 pounds and those weighing 50 to 119 pounds were up slightly compared to a year ago, as they both came in at 101%. With the continued decline of the sow herd in China, American producers remain hopeful that greater export opportunities will come their way in the upcoming calendar year.

"In conclusion, Monday's report likely will be found as neutral to slightly bearish, as there were more hogs accounted for than originally assumed."

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

	2023	2024	2025	2024 As Percent of 2023	2025 As Percent of 2024
	(1,000 head)	(1,000 head)		(%)
All Hogs Dec. 1	75,461	75,845		101%
Kept for Breeding	5,999	6,004		100%
Kept for Marketing	69,463	69,841		101%
	WEIGHT BREAKDOWN
Under 50 lbs.	21,571	21,834		101%
50-119 lbs.	19,154	19,426		101%
120-179 lbs.	14,908	14,824		99%
180 lbs. and over	13,829	13,757		99%
	FARROWINGS/INTENTIONS*
Sep-Nov	2,962	2,955		100%
Dec-Feb*	2,952	2,929	2,930	99%	100%
Mar-May*	2,941	2,913	2,953	99%	101%
Sep-Nov Pig Crop	34,537	35,238		102%
	(number)	(number)		(%)
Sep-Nov Pigs Per Litter	11.66	11.92		102%

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