The latest Quarterly Hogs and Pigs report from the U.S. Department of Agriculture (USDA) reveals a slight increase in the U.S. hog and pig population as of September 1, 2024, with a total of 76.5 million animals reported on farms. This figure represents a 2% rise from June 1, 2024, and a modest increase compared to September 2023. The report indicates that out of the total population, 70.4 million are market hogs, while 6.04 million are retained for breeding purposes.
The data also highlights that between June and August 2024, approximately 35 million pigs were weaned, which is a 1% decline from the previous year. The average number of pigs weaned per litter stands at 11.72, a statistic that reflects the productivity of U.S. hog producers. Looking ahead, producers plan to have nearly 3 million sows farrow in the upcoming months, with 2.96 million expected between September and November 2024, and 2.93 million from December 2024 to February 2025.
State-level data shows that Iowa leads the nation with the largest hog inventory, housing 25.5 million head, followed by Minnesota with 9.4 million and North Carolina with 8.2 million. This concentration of hog production in specific states may have implications for regional agricultural economies and supply chains.
For investors in the agriculture sector, these figures offer valuable insights into market trends and potential shifts in supply. The increase in the overall hog population and the planned farrowing rates suggest a stable, if not growing, market for pork products in the near future. However, the slight decline in weaned pigs could signal challenges in production efficiency or market demand, which investors should monitor closely. Additionally, the concentration of hog production in a few key states may present both opportunities and risks, as regional disruptions could significantly impact national supply.
The USDA’s engagement with the farming community through surveys and live Q&A sessions, such as the #StatChat, emphasizes the importance of transparency and communication in the agricultural sector. This interaction not only aids in data collection but also helps stakeholders stay informed about industry trends and challenges. As the U.S. swine industry continues to evolve, these reports will be crucial for farmers, investors, and policymakers alike in making informed decisions.
