USDA Quarterly Hogs and Pigs Report Bearish: Shows Nearby Expansion

USDA’s quarterly Hogs and Pigs Report was slightly bearish. All hogs and pigs came in at 100.3%, kept for breeding at 98.8% and kept for marketing at 100.4%. These were all above trade estimates. The June -Aug pig crop came in at 100.4%, pigs per litter at 104%. Farrowings were the bright spot, with June-Aug at 96.3%, Dec-Feb intentions at 98.6%. Mike Minor, with Professional Ag Marketing, has analysis.