By DTN Staff

This article was originally published at 2:08 p.m. CDT on Thursday, March 30. It was last updated with additional information at 2:24 p.m. CDT on Thursday, March 30.

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OMAHA (DTN) -- United States inventory of all hogs and pigs on March 1, 2023, was 72.9 million head. This was up slightly from March 1, 2022, but down 2% from Dec. 1, 2022, USDA NASS reported on Thursday.

Breeding inventory, at 6.13 million head, was up slightly from last year, but down slightly from the previous quarter.

Market hog inventory, at 66.7 million head, was up slightly from last year, but down 2% from last quarter.

The December 2022-February 2023 pig crop, at 32.1 million head, was up slightly from last year. Sows farrowing during this period totaled 2.91 million head, down slightly from previous year. The sows farrowed during this quarter represented 47% of the breeding herd. The average pigs saved per litter was 11.02 for the December 2022-February 2023 period, compared to 10.95 last year.

United States hog producers intend to have 2.93 million sows farrow during the March-May 2023 quarter, down 1% from the actual farrowings during the same period one year earlier, and down 3% from the same period two years earlier. Intended farrowings for June-August 2023, at 2.97 million sows, are down 3% from the same period one year earlier, and down 3% 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 51% of the total United States hog inventory, up 2% from the previous year.

REVISIONS

All inventory and pig crop estimates for March 2022 through December 2022 were reviewed using final pig crop, official slaughter, death loss, and updated import and export data. The revision made to the December 2022 all hogs and pigs inventory was 1.8%. A revision of 1.6% was made to the September 2022-November 2023 pig crop. The net revision made to the September 2022 all hogs and pigs inventory was 0.4%. A net revision of 1.5% was made to the June-August 2022 pig crop.

DTN ANALYSIS

"USDA said there were 72.86 million head of all hogs and pigs as of March 1, as expected," said DTN Lead Analyst Todd Hultman. "12.73 million hogs over 180 pounds are up 2% from a year ago and will continue to weigh on near-term prices. The other weights were near last year's levels.

"March-May farrowing intentions totaled 2.93 million sows, less than expected and down 1% from a year ago. June-August farrowing intentions totaled 2.97 million sows and are down 3% from a year ago. The lighter farrowing intentions should be supportive for deferred contracts. The December-February pig crop totaled 32.058 million, up 0.3% from a year ago and was a little less than expected.

"The inventory of all hogs and pigs for Dec. 1 was revised upward, from 73.119 million head in the December report to 74.399 million head in Thursday's report and explains the difficulty cash hog prices have had finding support in early 2023. June lean hogs closed up 77 cents at $91.60 Thursday, near its lowest prices in over a year."

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

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