September 2024 Hog Inventory Declined?
We calculate the September 1, 2024 US hog inventory at 75 million head, a 2% year over year reduction. Our estimate is anchored on the USDA‘s June Sows farrowing survey which found farmers intending to reduce summer farrowings 3% from a year earlier.
The September 2024 Hogs and Pigs report is scheduled for release September 25, 2024.
| US Hog Balance June/August Million head | ||||||
| 2020 | 2021 | 2022 | 2023 | 2024 | Percent | |
| June 1 | 77.7 | 73.2 | 72.3 | 73.6 | 74.6 | 101% |
|
June/August Pig Crop
|
36.1 | 33.9 | 34.3 | 35.3 | 33.6 | 95% |
| Net Imports | 1.2 | 1.7 | 1.6 | 1.8 | 1.8 | |
| Supply | 114.9 | 108.8 | 108.2 | 110.6 | 110.0 | |
| Slaughter | 33.5 | 31.0 | 30.8 | 31.1 | 32.0 | 103% |
| Residual | 3.3 | 2.9 | 3.3 | 3.4 | 3.1 | |
| September 1 | 78.1 | 74.9 | 74.1 | 76.1 | 74.8 | 98% |
| 2024 Data Assumes USDA Sows Farrowing Forecast published in June. | ||||||
| Derivation of June August Pig Crop (Thousand Head) | |||||
| 2020 | 2021 | 2022 | 2023 | 2024 | |
| Sows Farrowing | 3,260 | 3,050 | 3,082 | 3,040 | 2,963 |
| Pigs Per Litter | 11.06 | 11.13 | 10.97 | 11.19 | 11.33 |
| Pig Crop | 34,987 | 34,123 | 34,701 | 34,538 | 34,457 |
| 2024 Based on June USDA Survey and Recent Trend in Pigs saved per Litter | |||||