USDA Quarterly Hogs and Pigs Report Summary – June 2024

The USDA’s June 2024 report shows the total U.S. hog inventory at 74.5 million head, a 1% increase from the previous year. The breeding inventory stands at 6.01 million head, down 3%, while the market hog inventory has risen to 68.5 million head, up 2%. The March-May 2024 pig crop reached 34.0 million head, a 2% rise from 2023. Sows farrowing during this period totaled 2.94 million head. Projections for June-August 2024 indicate 2.96 million sows will farrow, a 3% decrease year-over-year.

Breeding Inventory

  • Total breeding inventory is 6.01 million head, a 3% decrease from June 2023.
  • This decline suggests potential adjustments in production strategies among U.S. hog producers.

Market Hog Inventory

  • Market hog inventory stands at 68.5 million head, reflecting a 2% increase from the previous year.
  • Breakdown by weight:
    • Under 50 pounds: 22.1 million head
    • 50-119 pounds: 19.2 million head
    • 120-179 pounds: 14.4 million head
    • 180 pounds and over: 12.7 million head

Pig Crop and Farrowing

  • The March-May 2024 pig crop was 34.0 million head, up 2% from 2023.
  • Sows farrowing during this period totaled 2.94 million head, averaging 11.55 pigs per litter.
  • For June-August 2024, producers expect to farrow 2.96 million sows, a 3% decrease from the same period in 2023.

Implications for the Industry

  • The increase in market hog inventory indicates sustained or growing demand for pork products.
  • The decrease in breeding inventory suggests a cautious approach to expanding production capacity.
  • Producers’ plans to farrow fewer sows in the coming months may lead to tighter supplies in the future, potentially affecting pork prices.

This report provides a comprehensive view of the current state and future expectations in the U.S. hog industry, reflecting both opportunities and challenges for producers.

For detailed data, visit the USDA report.