Source: FARM DOC DAILY, UNIV. OF ILLINOIS, 4/5/22

The USDA’s March Hogs and Pigs report places the March 1 inventory of all hogs and pigs at 72.209 million head, down about 3% from last quarter and 2.3% from the prior March, compared to pre-report estimates of 1.2% lower. The market hog inventory is about 2.4% smaller than a year ago, compared to expectations of 1.3% lower. While all hogs and pigs and market hogs fall within anticipated ranges of around 0.5% to nearly 3% lower for both, the breeding herd, the December to February pig crop, and farrowing intentions from March to May and June to August are all somewhat lower than expected. For instance, the breeding herd is 1.9% smaller, compared to expectations it could be up 0.1% with a range of 0.6% lower to 0.5% higher.

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