USDA Sept. 1 Hogs and Pigs Report

By DTN Staff

This article was originally posted at 2:10 p.m. CDT on Thursday, Sept. 25. It was last updated with additional information at 3:14 p.m. CDT on Thursday, Sept. 25.

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OMAHA (DTN) -- The United States inventory of all hogs and pigs on Sept. 1, 2025, was 74.5 million head. This was down 1% from Sept. 1, 2024, but up 1% from June 1, 2025, USDA NASS reported on Thursday.

Breeding inventory, at 5.93 million head, was down 2% from last year, and down slightly from the previous quarter.

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

The June-August 2025 pig crop, at 34.1 million head, was down 3% from 2024. Sows farrowing during this period totaled 2.88 million head, down 3% from 2024. The sows farrowed during this quarter represented 48% of the breeding herd. The average pigs saved per litter was 11.82 for the June-August period, compared to 11.72 last year.

United States hog producers intend to have 2.86 million sows farrow during the September-November 2025 quarter, down 2% from the actual farrowings during the same period one year earlier, and down 4% from the same period two years earlier. Intended farrowings for December 2025-February 2026, at 2.82 million sows, are down slightly from the same period one year earlier, and down 4% 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, down 1% from the previous year.

REVISIONS

All inventory and pig crop estimates for September 2024 through June 2025 were reviewed using final pig crop, official slaughter, death loss, and updated import and export data. The revision made to the June 2025 all hogs and pigs inventory was 1.9%. A revision of 1.8% was made to the March 2025-May 2025 pig crop. A net revision of 0.7% was made to the March 2025 all hogs and pigs inventory.

The net revision made to the December 2024-February 2025 pig crop was 2.1%.

DTN ANALYSIS

"Thursday's quarterly USDA Hogs and Pigs report shared a neutral to slightly optimistic outlook for the hog complex," said DTN Livestock Analyst ShayLe Stewart.

"One of the biggest takeaways from the report was that breeding inventory was down 2% from a year ago, at 5.93 million head, which obviously affected the lighter-weight marketing categories and could imply that market-ready supplies could be thin in the months to come, and prices could potentially grow stronger with the reduced inventory. Marketing hogs over 180 pounds were 100% (12,569,000 head) compared to a year ago, and marketing hogs weighing 120 to 179 pounds were 100% (15,865,000 head) compared to a year ago. But marketing hogs weighing 50 to 199 pounds were 99% (18,772,000 head) of a year ago, and the lightweight group of hogs -- those under 50 pounds -- came in at 98% (20,811,000 head) compared to a year ago.

"Couple the marketing notes with the lower farrowing intentions, and, again, it's likely that supplies are tighter in 2026 than what was originally presumed."

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

	2024	2025	2026	2025 as	2026 as
				Percent of 2024	Percent of 2025
	(1,000 head)	(1,000 head)		(%)
All Hogs Sept. 1	75,490	74,472		99%
Kept for Breeding	6,044	5,934		98%
Kept for Marketing	69,447	68,538		99%
	WEIGHT BREAKDOWN
Under 50 lbs.	22,194	21,662		98%
50-119 lbs.	20,132	19,667		99%
120-179 lbs.	14,447	14,498		100%
180 lbs. and over	12,674	12,711		100%
	FARROWINGS/INTENTIONS*
Jun-Aug	2,985	2,883		97%
Sep-Nov*	2,925	2,855		98%
Dec-Feb*	2,929	2,831	2,824	97%	100%
Jun-Aug Pig Crop	34,981	34,078		97%
	(number)	(number)		(%)
Jun-Aug Pigs Per Litter	11.72	11.82		101%

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