The U.S. Department of Agriculture has published its latest Hogs and Pigs report for September 2024, providing critical data on inventory levels and key production trends in the swine industry. The following are the main highlights of the report:
Inventory Overview
- The total inventory of hogs and pigs in the United States as of September 1, 2024, was 74.8 million head, reflecting a slight decrease of 1% compared to the same period last year.
- The breeding inventory was reported at 6.13 million head, also down 1% from the previous year.
- Market hog inventory reached 68.7 million head, down 1% from 2023.
Breeding and Farrowing Intentions
- The report indicates that the number of sows farrowing during the June-August 2024 period totaled 2.92 million head, which was 2% below the same period a year earlier.
- The number of pigs saved per litter was reported at an average of 11.3, relatively unchanged from the previous year.
Market Hog Weight Breakdown
- Hogs weighing under 50 pounds totaled 21.3 million head, showing a 1% decrease compared to September 2023.
- The 50-119 pound weight group recorded an inventory of 19.3 million head, down slightly by 1% year-over-year.
- Hogs in the 120-179 pound category totaled 14.7 million head, remaining relatively stable with no significant change.
- The inventory of hogs weighing 180 pounds and over reached 13.4 million head, showing a marginal decrease of less than 1%.
Future Farrowing Expectations
- Producers expect to farrow 2.92 million sows during the September-November 2024 quarter, which is down 1% compared to the same quarter of 2023.
- For the December 2024-February 2025 quarter, producers intend to farrow 2.90 million sows, indicating a 2% decrease from the previous year.
Implications for the Industry The USDA’s September Hogs and Pigs report suggests a continued focus on managing breeding inventories and market weights to align production with demand trends. The modest decline in inventory and farrowing intentions signals a potential tightening of supply, which could have implications for market prices and producer margins in the coming months.
Conclusion With a slight reduction in breeding stock and consistent litter sizes, producers are aiming for a more measured approach as the industry navigates current market conditions. Industry stakeholders should closely monitor these trends to make informed decisions on production strategies and market positioning.
