U.S. Hog Herd Grows in Third Quarter, USDA Says

By Kirk Maltais

Despite projections that inventories would decline, the Agriculture Department says total hog inventories actually rose through the third quarter.

In its quarterly Hogs and Pigs Report issued Thursday, the USDA said for the quarter ended Sept. 1, total inventories of hogs and pigs climbed by 194,000 head to 74.32 million head. That is an uptick of 0.3 percentage points from last year, running counter to expectations for a decline in inventories.

The breeding herd declined for the quarter, although by less than forecast by analysts. Hogs kept for breeding fell 73,000 head to 6.08 million head, a decline of 1.2 percentage points from last year.

Marketing for hogs rose from this time last year, according to USDA, climbing 268,000 head to 68.24 million head, a rise of 0.4 percentage points.

The report also showed the average amount of piglets in a litter again soared for the quarter. Pigs per litter hit an average of 11.61 pigs per litter, which is up from 11.13 at this time last year. Analysts told The Wall Street Journal this week a higher pigs-per-litter count would offset reductions in the breeding herd.

Most-active lean hog futures trading on the CME closed the day up 3.8% to 75.525 cents a pound. Live cattle futures closed up 1.2% to $1.90425 a pound.

Write to Kirk Maltais at [e-mail]

(END) Dow Jones Newswires

09-28-23 1600ET