Today, USDA released its quareterly Hogs and Pigs report for the March through May quarter. The total inventory of hogs and pigs on 1 June was 74.5 million head, which was 101 percent of June 2023, in line with pre-report expectations.
This is the second consecutive year to see an increased June inventory. Total inventory was down slightly from March, but shows a much smaller decline than the past three years.
With the June report, USDA made the following revisions, all upwards, detailed in the table below.
Note that the September to November 2023 pig crop was also revised up 0.5 percent in the March report. The table below shows the numbers from the report by catgeory compared to the pre-report expectations. The...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
