- 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.