Source: FARM DOC DAILY, UNIV. OF ILLINOS, 1/11/22

The USDA’s December Hogs and Pigs report places the December 1 inventory of all hogs and pigs at 74.2 million head, down about 1% from last quarter and 4% lower than the same time last year, compared to an average pre-report estimate of just 2.8% lower. That’s the smallest December inventory since 2017. While pre-report expectations pegged the breeding herd just right at only 0.1% higher than a year ago, the market hog inventory is similarly down about 4.5% compare to expectations of only 2.9% lower.

For more of this story, click here.