The U.S. had 73.5 million head of hogs and pigs as of Sep. 1, up 2 percent from a year ago. U.S. pork production this year is forecast to be about 5 percent higher than in 2016 to cover the expected 2 percent increase in domestic consumption and 8 percent increase in export demand. Add the increase in hogs and pigs to the steady uptrend in broiler hatches and cattle on feed, and we see why USDA is holding to its estimated 6 percent year over year increase in 2016/17 corn used for feed and further 50 million bushel increase for 2017/18. The Grain Stocks report today placed 2016/17 corn ending stocks at 2.295 billion bushels, down 55 million bushels from the September estimate, which may point to an increase in 2016/17 feed use in the October S&D report.
Hog & Pig Population vs. Pork Exports