Latest Hogs and Pigs report shows a decline in farrowing intentions

The USDA’s latest Hogs and Pigs report suggests tighter supplies in the last half of the year. 

Iowa State University ag economist Lee Schulz says farrowing intentions across the country had a wide range.  “Year over year change is about 11% down, all the way to up about 11% up in that June/August farrowing intention numbers,” he says.  “What that suggests is that there’s a lot of possibility for change in the industry, obviously there is a lot of economic opportunities, and that has big implications for inventories.”

Tyler Cozzens with the Livestock Marketing Information Center says market volatility is also impact producers’ decisions.  “Specifically on the feed cost side of things, I think you’re looking at these lower farrowing intentions, actually lower than pre-report estimates, kind of points to these producers taking a little more of a measured approach to production moving forward and maybe looking at how these things will play out in the markets.”

Overall, the numbers look neutral to bullish for prices, but that will largely depend on how domestic and export demand plays out over the coming months. 

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