USDA March 1 Hogs and Pigs Report

By DTN Staff

This article was originally published at 2:09 p.m. CDT on Thursday, March 27. It was last updated with additional information at 2:59 p.m. CDT on Thursday, March 27.

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OMAHA (DTN) -- United States inventory of all hogs and pigs on March 1, 2025, was 74.5 million head. This was down slightly from March 1, 2024, and down 1% from Dec. 1, 2024, USDA NASS reported on Thursday.

Breeding inventory, at 5.98 million head, was down 1% from last year, and down slightly from the previous quarter.

Market hog inventory, at 68.5 million head, was down slightly from last year, and down 1% from last quarter.

The December 2024-February 2025 pig crop, at 33.7 million head, was down slightly from last year. Sows farrowing during this period totaled 2.89 million head, down 1% from previous year. The sows farrowed during this quarter represented 48% of the breeding herd. The average pigs saved per litter was 11.65 for the December 2024-February 2025 period, compared to 11.53 last year.

United States hog producers intend to have 2.91 million sows farrow during the March-May 2025 quarter, down slightly from the actual farrowings during the same period one year earlier, and down 1% from the same period two years earlier. Intended farrowings for June-August 2025, at 2.96 million sows, are down 1% from the same period one year earlier, and down 2% 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, unchanged from the previous year.

Revisions

All inventory and pig crop estimates for March 2024 through December 2024 were reviewed using final pig crop, official slaughter, death loss, and updated import and export data. The revision made to the December 2024 all hogs and pigs inventory was 1.2%. A revision of 1.4% was made to the September 2024-November 2024 pig crop. The net revision made to the September 2024 all hogs and pigs inventory was 1.3%. A net revision of 0.1% was made to the June-August 2024 pig crop. The net revision made to the June 2024 all hogs and pigs inventory was 0.5%. A net revision of 0.8% was made to the March-May 2024 pig crop.

DTN ANALYSIS

"Thursday's quarterly Hogs and Pigs report came out somewhat surprising, as all three main categories were projected to come in either steady with a year ago or somewhat higher, and low and behold, Thursday's data showed a little different story," said DTN Livestock Analyst ShayLe Stewart.

"The all hogs and pigs inventory was steady compared to a year ago at 74.5 million head, but the breeding inventory came in 5.98 million head down 1% compared to a year ago, and the marketing inventory was pegged at 68.5 million head, which is also down slightly compared to year ago. The weight breakdown of hogs kept for marketing was pretty straightforward, as all three of the categories were steady with a year ago, with the largest supply being that of hogs weighing less than 50 pounds (21,301,000 head) and the thinnest supply being of those weighing more than 180 pounds (12,499,000 head).

"This news should come as a bullish surprise to the market, as greater supplies typically weigh heavily on the market as traders worry about there being too much inventory. But when you take into account Thursday's data and that of the most recent WASDE report, USDA's expected increase in pork production for the second and third quarters of 2025 should only help increase prices, as supplies aren't as available as originally assumed."

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

	2024	2025	2025 as percent of 2024
	(1,000 head)	(1,000 head)	(percent)
All Hogs March 1	74,691	74,512	100
Kept for Breeding	6,016	5,980	99
Kept for Marketing	68,676	68,532	100
WEIGHT BREAKDOWN
Under 50 lbs.	21,369	21,301	100
50-119 lbs.	19,113	19,032	100
120-179 lbs.	15,754	15,700	100
180 lbs. and over	12,440	12,499	100
FARROWINGS/INTENTIONS*
Dec-Feb	2,929	2,892	99
Mar-May *	2,920	2,913	100
Jun-Aug *	2,985	2,961	99
Dec-Feb Pig Crop	33,756	33,701	100
	(number)	(number)	(percent)
Dec-Feb Pigs Per Litter	11.53	11.65	101

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