Pig Inventory Sets New Record
Much of the quarterly hogs and pigs report came in near expectations, and setting a new record for hog inventories. Total inventory of all hogs and pigs on June 1, 2017 was 71.7 million head, up 3% from June 1, 2016, and up 1% from March 1, 2017.
Breeding inventory, at 6.07 million head, was up 2% from last year, and up slightly from the previous quarter. “The amazing stability we see...seems to suggest we might have a plateau in sow inventory estimates, although still growing,” says Scott Brown, University of Missouri Extension economist. “This was stronger than anticipated.”
Of note was Iowa, which added 30,000 sows, likely due to the new pork plants coming online, adds Joe Kerns, president, Kerns & Associates, Ames, Iowa.
Sows farrowed during this period totaled 3.06 million head, up 3% from 2016. The sows farrowed during this quarter represented 50% of the breeding herd. The average pigs saved per litter was a record high 10.55 for the March to May period, compared to 10.48 last year.
Market Hogs Hit the High
Market hog inventory, at 65.6 million head, was up 4% from last year, and up 1% from last quarter. This is the highest June 1 market hog inventory since estimates began in 1964.
“Although there could be some expansion thru the rest of 2017, it will be minor for the rest of the year,” Brown says.
The March-May 2017 pig crop, at 32.3 million head, was up 4% from 2016. This is the second largest March-May pig crop since estimates began in 1970.
Smaller operations, with 1-99 head, saw a decrease in pigs saved per litter at 7.70. Larger operations, with 5,000 head, saw an average 10.60 pigs per litter saved.
