US Hog Inventory Shows Stability with Modest Changes in June 2023

According to the latest Quarterly Hogs and Pigs report by the USDA's National Agricultural Statistics Service, the United States' hog and pig inventory on June 1, 2023, displayed marginal changes compared to the previous year. With a total inventory of 72.394 million head, there was a slight increase of approximately 80,000 head from June 2022. However, this figure represents a 1% decline from the previous quarter.

The breeding hog inventory, accounting for 6.15 million head, remained relatively steady with a slight decrease of 0.4% compared to the previous year, but saw a 1% increase from the previous quarter. Meanwhile, the market hog inventory reached 66.2 million head, showing a modest 0.2% increase from the previous year, while experiencing a 1% decline from March 2023.

The March-May 2023 pig crop reached 32.9 million head, reflecting a 1% increase from 2022. Sows farrowing during this period totaled 2.90 million head, which marked a 2% decrease from the previous year. Notably, the average pigs saved per litter exhibited a significant jump of 3.3%, increasing from 11.00 last year to 11.36 for the March-May period.

Iowa held the largest hog inventory among states, with 23.8 million head, followed by Minnesota with 8.70 million head. North Carolina reported a 7.3% decrease in inventory compared to the previous year, with a total of 7.60 million head.

Producers' intentions for farrowing in the coming months showed a measured approach, with a 4% decrease expected for the June-August 2023 quarter compared to the same period the previous year. Farrowings for September-November 2023 are projected to be down 4% as well.

The report suggests that despite lower farrowing intentions, the industry is moving forward with increased efficiency in pig production. While the 180 pounds and over group witnessed a decline, other weight categories displayed modest increases.

The data, collected through surveys conducted across the nation, provides valuable insights into the state of the US swine industry. Although the hog and pig inventory figures indicate stability, the market conditions remain balanced.

Photo Credit: istock-Srdjan Stepic