The US hog herd looks to be expanding slowly, although the USDA’s National Agricultural Statistics Service Quarterly Hogs and Pigs report showed a 1% decline in all hogs and pigs from the previous quarter.
The inventory of all hogs and pigs on March 1 was 70.976 million head, a gain of 2.852 million, or 4.19%, from 68.124 million a year earlier. However, this was down 524,000, or 0.73% from 71.500 million on Dec. 1.
The total breeding inventory of 6.068 million head on March 1, was up 88,000, or 1.47%, from 4.980 million a year earlier. However, it was down 22,000, or 0.36%, from 6.090 million on Dec. 1.
The March 1 market hog inventory, at 64.908 million head, was up 2.764 million, or 4.45%, from 62.144 million a year earlier. But it was down 502,000, or 0.77%, from the Dec. 1 total.
The December 2016 through February 2017 pig crop, at 31.400 million head, was up 1.261 million, or 4.18%, from 30.139 million in the 2016 quarter. In addition, the quarterly pig crop was up 1.773 million, or 5.98%, from 29.627 million in the 2015 quarter.
That was done with an average litter size of 10.43 pigs, up 0.13 pig, or 1.26%, from 10.30 pigs in the 2016 quarter and up 0.20 pig, or 1.96%, from 10.23 pigs in the 2015 quarter.
The number of sows farrowed in the December-through-February quarter was 3.010 million, up 83,000, or 2.84%, from 2.927 million in the year-earlier quarter. It also was up 115,000, or 3.97%, from 2.895 million in the 2015 quarter.
FARROWING PLANS
Going forward, hog producers said they intended to farrow just as many sows in the March-through-May quarter at 3.010 million. This is up 42,000, or 1.42%, from 2.968 million a year earlier and up 156,000, or 5.47%, from 2.854 million in the 2015 quarter.
In the June-through-August quarter, producers said they expected to farrow 3.045 million sows, down 12,000, or 0.39%, from 3.057 million a year earlier but up 28,000, or 0.93%, from 3.017 in the same quarter of 2015.
MORE MARKET HOGS COMING
As of March 1, the industry held 11.819 million hogs weighing 180 pounds or more, up 590,000, or 5.25%, from 11.229 million a year earlier. They also had 14.570 million hogs weighing 120 to 179 pounds, up 751,000, or 5.43%, from a year ago.
Producers also had 17.902 million hogs weighing 50 to 119 pounds, up 704,000, or 4.09%, from 17.198 last year.
CASH CATTLE DOWN $2.34
Average fed cattle exchange auction prices Wednesday were $2.34 per cwt lower at $130.97, versus $133.31 a week earlier.
Little cash trading was reported Wednesday with a dressed-basis trade of $210 per cwt in Iowa, steady with last week and up $2 from one sale Tuesday. Scattered sales were seen in Texas at $126 to $128 live, down about $2 to $4 from last week. Otherwise, asking prices were mostly $132 to $134 on a live basis and $215 dressed.
Cash cattle markets last week were steady to up $5 at $128 to $134 per cwt in the Southern Plains and up $2.50 to $5 in Nebraska at $133 to $136.50, mostly $134. Dressed-basis trading was up $2 at $212.
The USDA’s choice cutout Thursday was down $1.71 per cwt at $215.21, while select was off $2.21 at $208.05. The choice/select spread widened to $7.16 from $6.66 with 106 loads of fabricated product sold into the spot market.
The CME Feeder Cattle Index for the seven days ended Wednesday was $132.85 per cwt, down $0.51. This compares with Thursday’s Mar settlement of $132.67, down $0.62, and the Apr settlement of $132.55, down $1.85.