USDA Hogs and Pigs Report

By DTN Staff

This article was originally posted at 2:10 p.m. CDT on Thursday, Sept. 24. It was last updated with additional information at 3:31 p.m. CDT on Thursday, Sept. 24.

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OMAHA (DTN) -- United States inventory of all hogs and pigs on Sept. 1, 2026, was 74.3 million head. This was down 2% from Sept. 1, 2025, but up 2% from June 1, 2026, USDA NASS reported on Thursday.

Breeding inventory, at 5.87 million head, was down 1% from last year, and down slightly from the previous quarter, NASS said.

Market hog inventory, at 68.4 million head, was down 2% from last year, but up 2% from last quarter, NASS said.

The June-August 2026 pig crop, at 34.5 million head, was down 2% from 2025. Sows farrowing during this period totaled 2.89 million head, down 3% from 2025. The sows farrowed during this quarter represented 49% of the breeding herd. The average pigs saved per litter was 11.96 for the June-August period, compared to 11.82 last year, NASS said.

United States hog producers intend to have 2.85 million sows farrow during the September-November 2026 quarter, down 2% from the actual farrowings during the same period one year earlier, and down 2% from the same period two years earlier. Intended farrowings for December 2026-February 2027, at 2.80 million sows, are up 2% from the same period one year earlier, but down 1% from the same period two years earlier, NASS said.

The total number of hogs under contract owned by operations with over 5,000 head, but raised by contractees, accounted for 56% of the total United States hog inventory, up 4% from the previous year, NASS said.

REVISIONS

All inventory and pig crop estimates for September 2025 through June 2026 were reviewed using final pig crop, official slaughter, death loss, and updated import and export data. The revision made to the June 2026 all hogs and pigs inventory was 0.7%. A revision of 0.4% was made to the March 2026-May 2026 pig crop. A net revision of 1.0% was made to the March 2026 all hogs and pigs inventory. The net revision made to the December 2025-February 2026 pig crop was 1.9%.

DTN ANALYSIS

Thursday's Quarterly Hogs and Pigs report will likely be absorbed by the market as a bullish report, as the total number of hogs is down 2% from a year ago, the breeding herd is down 1% from a year ago and even market hog inventories are down 2% compared to a year ago, DTN Livestock Analyst ShayLe Stewart said after the report's release.

"But the only line item that really made me ponder how the greater industry will absorb this data was the fact that the breeding herd -- sitting at 5.87 million head -- is down 2% for a year ago but is up 2% from last quarter," Stewart said. "Thankfully, upon looking at individual weight data, there isn't an overabundance of hogs weighing 180 pounds or more. So, hopefully, with adequate throughput, there shouldn't be any major supply issues or burdensome inventories, even though market hog supplies are up 2% from last quarter.

"Hopefully, this report will lend some bullish support to the marketplace, which the complex needs."

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

	2025	2026	2027	2026 as	2027 as
				Percent of 2025	Percent of 2026
	(1,000 head)	(1,000 head)		(%)
All Hogs Sept. 1	75,438	74,302		98%
Kept for Breeding	5,936	5,875		99%
Kept for Marketing	69,502	68,427		98%
	WEIGHT BREAKDOWN
Under 50 lbs.	22,211	21,866		98%
50-119 lbs.	20,283	19,976		98%
120-179 lbs.	14,358	14,142		98%
180 lbs. and over	12,650	12,443		98%
	FARROWINGS/INTENTIONS*
Jun-Aug	2,965	2,886		97%
Sep-Nov*	2,907	2,855		98%
Dec-Feb*	2,831	2,737	2,795	97%	102%
Jun-Aug Pig Crop	35,044	34,508		98%
	(number)	(number)		(%)
Jun-Aug Pigs Per Litter	11.82	11.96		101%

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