- The total inventory of hogs and pigs on December 1, 2017 was estimated at 73.230 million hogs, 2.4% higher than a year ago
- USDA survey pegged the hog breeding herd inventory at 6.179 million head, 1.1% above last year’s levels and now 7% higher than the cycle low in 2009
- The increase in the breeding herd sets the stage for larger pig crops in Dec‐Feb (summer slaughter) and Mar‐May (fall slaughter)
- The supply of red meat and poultry in cold storage is higher than a year ago but the drawdown in stocks during November suggests demand remains in good shape
- There were 505.0 million pounds of pork in cold storage at the end of last month, 2.7% less than a year ago and 5.7% less than the five year average
Please see the rest of the document for our detailed price summary as well as our forecasts for the next six months.