The USDA’s Quarterly Hogs and Pigs report Friday showed the US inventory of all hogs and pigs on Dec. 1 to be up from a year ago but slightly lower than the previous report as of Sep. 1.
The breeding inventory also was mixed with the number up slightly from last year but down a bit from the last report.
HERD INVENTORY UP
The US herd on Dec. 1 numbered 75.845 million head, up 384,000, or 0.51%, from 75.461 million a year ago, but down 250,000, or 0.33%, from 76.095 million in the previous report.
The breeding herd totaled 6.004 million head on Dec. 1, up 5,000, or 0.08%, from 5.999 million a year earlier but down 40,000, or 0.66%, from 6.044 million in the September report.
Market hogs on Dec. 1 totaled 69.674 million head, up 211,000, or 0.30%, from 69.463 million a year earlier but down 378,000, or 0.54%, from 70.052 million in the previous report.
MARKET HOGS BIASED TOWARD LIGHTER WEIGHTS
Market hog totals tended to be biased toward the lighter weights with those weighing less than 50 pounds totaling 21.834 million head, up 263,000, or 1.22%, from 21.571 million a year ago. Compared with September’s 22.429 million head, the total was down 595,000, or 2.65%.
Market hogs weighing 50 to 119 pounds totaled 19.426 million head, up 272,000, or 1.42%, from 19.154 million a year ago but down 1.076 million, or 5.25%, from 20.502 million in September.
Market hogs weighing 120 to 179 pounds totaled 14.824 million head down 84,000, or 0.56%, from 14.908 million last year but up 377,000, or 2.61%, from 14.447 million in the last report.
And market hogs weighing 180 pounds or more on Dec. 1 totaled 13.757 million head, down 72,000, or 0.52%, from 13.829 million last year but up 1.083 million, or 8.55%, from 12.674 million in September.
SOWS FARROWING DOWN; PIG CROP UP
The number of sows that farrowed in the September-through-November quarter was 2.955 million head, down 7,000, or 0.24%, from 2.962 million in the year-ago quarter, yet the pig crop totaled 35.238 million head, up 701,000, or 2.03%, from 34.537 million in the 2023 quarter.
That gain was achieved through a larger number of pigs saved per litter. The report showed that 11.92 pigs were saved per litter during the last quarter, up from 11.66 pigs in the same 2023 quarter. It even was up from 11.72 pigs per litter in the June-through-August quarter, which was up from 11.61 pigs a year earlier.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $192.00 per cwt to $193.41, compared with last week’s range of $191.52 to $194.79 per cwt. FOB dressed steers, and heifers went for $301.59 per cwt to $307.99, compared with $299.65 to $307.99.
The USDA choice cutout Monday was up $0.13 per cwt at $315.98 while select was up $0.84 at $286.75. The choice/select spread narrowed to $29.23 from $29.94 with 87 loads of fabricated product and 27 loads of trimmings and grinds sold into the spot market.
The USDA-listed weighted average wholesale price for fresh 90% lean beef was $320.21 per cwt, and 50% beef was $65.19.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $1.19 to $1.35 a bushel over the Mar corn contract, which settled at $4.48 1/2, up $0.00 3/4.
No delivery intentions were posted for the Dec live cattle contract Tuesday.
The CME Feeder Cattle Index for the seven days ended Monday was $262.96 per cwt, down $0.04. This compares with Tuesday’s Jan contract settlement of $255.85, down $0.75.