USDA Hogs & Pigs Report               06/29 14:16

US June 1 Hog Inventory Down 1% From Year Ago 

                           2021               2022              2022 as
                                                                percent
                                                                of 2021
                       (1,000 head)       (1,000 head)         (percent)

All Hogs June 1          73,153              72,524               99%
Kept for Breeding         6,220               6,168               99%
Kept for Marketing       66,933              66,356               99%

WEIGHT BREAKDOWN
Under 50 lbs.            21,354              21,083               99%
50-119 lbs.              18,919              18,811               99%
120-179 lbs.             13,830              13,737               99%
180 lbs.                 12,829              12,725               99%

FARROWINGS/INTENTIONS* 
Mar-May                   3,034               2,992               99%
Jun-Aug*                  3,050               3,019               99%
Sep-Nov*                  3,049               3,007               99%
Mar-May Pig Crop         33,233              32,905               99%

                          (number)          (number)           (percent)

Mar-May Pigs Per Litter   10.95               11.00               100%


This article was originally posted at 2:16 p.m. on Wednesday, June 29. It 
was last updated with additional information at 2:48 p.m. on Wednesday, 
June 29.

**

OMAHA (DTN) -- United States inventory of all hogs and pigs on June 1, 
2022, was 72.5 million head. This was down 1% from June 1, 2021, and down 
slightly from March 1, 2022, USDA NASS reported on Wednesday. 

Breeding inventory, at 6.17 million head, was down 1% from last year, but 
up 1% from the previous quarter.

Market hog inventory, at 66.4 million head, was down 1% from last year, 
and down slightly from last quarter. 

The March-May 2022 pig crop, at 32.9 million head, was down 1% from 2021. 
Sows farrowing during this period totaled 2.99 million head, down 1% from 
2021. The sows farrowed during this quarter represented 49% of the 
breeding herd. The average pigs saved per litter was 11.00 for the March-
May period, compared to 10.95 last year.

United States hog producers intend to have 3.02 million sows farrow during 
the June-August 2022 quarter, down 1% from the actual farrowings during 
the same period one year earlier, and down 7% from the same period two 
years earlier. Intended farrowings for September-November 2022, at 3.01 
million sows, are down 1% from the same period one year earlier, and down 
5% 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 50% of the total 
United States hog inventory, up 1% from the previous year. 

Revisions: All inventory and pig crop estimates for June 2021 through 
March 2022 were reviewed using final pig crop, official slaughter, death 
loss, and updated import and export data. The revision made to the March 
2022 all hogs and pigs inventory was 0.6%. The revision made to the 
December 2021-February 2022 pig crop was 0.4%. The net revision made to 
the December 2021 all hogs and pigs inventory was 0.3%. A net revision of 
1.2% was made to the September-November 2021 pig crop.

DTN ANALYSIS

"The latest USDA Quarterly Hogs and Pigs report comes as a neutral report 
for the market, as trade estimates were nearly spot on in projecting what 
the report would unveil," said DTN Livestock Analyst ShayLe Stewart. 
"Given that the industry has recently struggled with throughput and 
domestic pork demand, seeing slightly lower U.S. hog inventory numbers is 
relieving. The market's June 1 inventory totaled 72,524 million head, 
which was down 1% from a year ago and down just slightly from the previous 
quarter and is the lowest inventory that the nation has seen since 2018. 

"Currently, the deferred contracts of December 2022 and February 2023 are 
seeing the biggest discounts, as demand remains a questionable variable in 
today's market. Seeing the market hogs and pigs by weight groups all 
falling by exactly 1% lower than a year ago is mixed news: Yes, numbers 
are slightly lower, but to process that many hogs and not see prices 
suffer, the market will need to see stronger domestic and international 
demand. But given that U.S. hog prices remain substantially higher than 
other exporting countries, our export opportunities are limited."

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