On Jun. 29, USDA reported there were almost 72.4 million head of hogs and pigs in the U.S. as of Jun. 1 vs. 72.3 million head last June. Q2 inventory set a record in 2020 at 77.7 million head, and the 2018-2022 average for the quarter is 74.2 million head.
Pork production from January through May totaled 11.5 billion pounds, up about 1.5 percent from Jan-May 2022, while the number of hogs slaughtered during the first five months of 2023 was up closer to 2 percent year over year. Slaughter weight has been lighter this year for both hogs and cattle, reflecting higher feed costs.
U.S. pork exports totaled 1.7 billion pounds during Q1 2023, according to USDA’s most recent date, up 8 percent from Q1 2022.
The full version of this commentary appeared on our IQ platform Jun. 29, 2023. Further information, statistics, and pricing for the pork market are available to IQ subscribers. Learn more about becoming a subscriber.
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