USDA Hogs & Pigs Report               03/30 14:26

US March 1 Hog Inventory Down 2% From Year Ago

                           2022               2023              2023 as
                                                                percent
                                                                of 2022
                       (1,000 head)       (1,000 head)         (percent)

All Hogs March 1         72,689              72,860               100
Kept for Breeding         6,098               6,127               100
Kept for Marketing       66,591              66,734               100

WEIGHT BREAKDOWN
Under 50 lbs.            20,105              20,059               100
50-119 lbs.              19,030              18,975               100
120-179 lbs.             14,988              14,973               100
180 lbs.                 12,468              12,727               102

FARROWINGS/INTENTIONS* 
Dec-Feb                   2,919               2,910               100
Mar-May*                  2,967               2,930                99
Jun-Aug*                  3,062               2,973                97
Dec-Feb Pig Crop         31,947              32,058               100

                          (number)          (number)           (percent)

Dec-Feb Pigs Per Litter   10.95               11.02               101


This article was originally published at 2:15 p.m. CDT on Thursday, March 
30. It was last updated with additional information at 2:26 p.m. CDT on 
Thursday, March 30.

**

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."

**

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