US hog inventory on the rise; margins remain tight

The latest quarterly hogs and pigs report from USDA showed an increase in U.S. numbers. Inventory as of Sept. 1 was pegged at 76.5 million head, up slightly from September 2023 and up 2% from June 1. In Illinois, all hogs and pigs totaled 5.6 million head, down 3% since June but up 2% compared to last year. During a webinar hosted by the National Pork Board after the report was released Sept. 26, Brett Stuart with Global AgriTrends said there is potential for swine numbers to continue to rise. “The WASDE (World Agricultural Supply and Demand Estimates) report shows 2024 pork production up 2.7%,” he said. “If we were up 1.1% in the first half, that means to get to the WASDE number, we’re going to be up 4.3% in the second half of the year.” Stuart said given those estimates, the hog industry could be looking at larger production going into the fourth quarter. The September report placed breeding inventory at 6.04 million head, down 2% from last year, but up 1% from the previous quar