By Andi Anderson
Economists recently analyzed the third-quarter USDA Hogs and Pigs Report, providing insight into the state of the US pork industry during a National Pork Board webinar on September 26.
Lee Schulz, a professor of economics at Iowa State University, highlighted key statistics, showing that the total number of hogs and pigs in the United States reached 76.48 million head, representing a 0.5% increase from the previous year.
The report also revealed that the “kept for breeding” category was down by 2.2% from last year, standing at 6.04 million head. Meanwhile, the market hog inventory increased by 0.7% to 70.4 million head.
Although sows farrowing from June to August declined by 1.7%, the pigs per litter figure continued to set records, rising 0.9% compared to the previous year, reaching an average of 11.72 for June-August.
According to Schulz, this resulted in a pig crop of 35.03 million, down 0.8% from last year but aligning with pre-report expectations. The increased productivity levels have been driven by fewer cases of diseases like porcine reproductive and respiratory syndrome (PRRS) and porcine epidemic diarrhea virus (PEDV).
Schulz also noted that slaughter rates for June 1 were 2% higher compared to the previous year, with hog slaughter up by 1.2% overall. Hog weights have also seen an increase, continuing a trend of heavier hogs compared to the average from 2015-2019.
Looking forward, Schulz projected that US pork production for 2024 will reach 27.9 million pounds, achieving a record level of pork produced per breeding animal.
He concluded by noting that the industry is experiencing historical productivity levels and is poised to continue its growth trajectory in the coming years.
These positive trends in production, along with ongoing improvements in hog health, are setting the stage for the US pork industry to maintain its leadership in global pork production.
Photo Credit: iowa-state-university
Categories: Iowa, Rural Lifestyle