September Hogs and Pigs Estimate 09/18/2020

We estimate all hogs and pigs in the U.S. on September 1 at 78 million head, down 1% from a year ago but still large relative to  years prior to 2019. The September 1 estimate contrasts sharply with the June 2020  inventory which was up 5% from data for

2019.

We have assumed farmers followed through with summer farrowing plans expressed in the June survey. The volatile price for deliverable hogs during the summer may have had farmers rethinking production plans. If so, then the September report could be smaller than we have calculated.