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Quarterly Hogs and Pigs Executive Summary Travis Averill, Chief Livestock Branch June 25, 2020

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Page 1: Quarterly Hogs and Pigs › Newsroom › Executive_Briefings › ... · 2020-06-25 · 95.2 99.0 104.2 98.1 103.7 94.7 95.4 101.4 105.8 98.7 105.2 92.5 94.5 96.5 98.5 100.5 102.5

Quarterly Hogs and Pigs

Executive Summary

Travis Averill, ChiefLivestock Branch

June 25, 2020

Page 2: Quarterly Hogs and Pigs › Newsroom › Executive_Briefings › ... · 2020-06-25 · 95.2 99.0 104.2 98.1 103.7 94.7 95.4 101.4 105.8 98.7 105.2 92.5 94.5 96.5 98.5 100.5 102.5

2020 June Hogs & Pigs SurveyNumber of Samples

June 25, 2020

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U.S. Hogs and Pigs Revisions

Survey ItemInitial

Estimate(1,000 head)

CurrentRevision(1,000 head)

Net Revision(1,000 head)

Current Estimate(1,000 head)

December 1, 2019 All Hogs and Pigs 77,338 +390 +1,710 79,048

Pig Crop 35,101 +198 +1,104 36,205

June 25, 2020

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U.S. Hogs and Pigs June 1

2019 2020 % Change from Previous Year(1,000 head)

All Hogs and Pigs 75,725 79,634 ↑ 5.2

Breeding Hogs 6,410 6,326 ↓ 1.3

Market Hogs 69,316 73,308 ↑ 5.8

79.6

61

63

65

67

69

71

73

75

77

79

81

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Million head U.S. Quarterly Hogs and Pigs

June March

75.7

77.6

Top 5 States

Inventory(1,000 head)

Iowa 25,200

Minnesota 9,600

North Carolina 9,400

Illinois 5,500

Indiana 4,550

June 25, 2020

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June 1, 2020 Hogs and Pigs Inventory(000) Head and Percent Change from Previous Year

June 25, 2020

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U.S. Hogs and Pigs June 1

2019 2020 % Change from Previous Year(1,000 head)

Market Hogs 69,316 73,308 ↑ 5.8

Less than 50 lbs 22,210 22,160 ↓ 0.2

50 – 119 lbs 19,693 20,370 ↑ 3.4

120 – 179 lbs 14,396 16,090 ↑ 11.8

180 lbs or more 13,017 14,687 ↑ 12.8

11

14

17

20

23

26

Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020

Million head Market Hogs by Weight Class

LT 50 LBS 50 TO 119 LBS 120 TO 179 LBS GE 180 LBS

June 25, 2020

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U.S. Hogs and Pigs June 1

2019 2020 % Change from Previous Year(1,000 head)

Sows Farrowed 3,133 3,172 ↑ 1.2

Intentions

Jun – Aug 3,275 3,123 ↓ 4.6

Sep – Nov 3,265 3,090 ↓ 5.4

3.17

3.12

3.09

2.7

2.8

2.9

3.0

3.1

3.2

3.3

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Million head U.S. Quarterly Sows Farrowed

Mar-May Estimates Jun-Aug Intentions Sep-Nov Intentions

June 25, 2020

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U.S. Hogs and Pigs June 1

2019 2020 % Change fromPrevious Year(1,000 head)

Pig Crop 34,454 34,933 ↑ 1.4

(Number)

Pigs per Litter 11.00 11.01 ↑ 0.1

11.0011.00

11.01

9.50

9.80

10.10

10.40

10.70

11.00

11.30

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Pigs per Litter U.S. Quarterly Pigs per Litter

March - May December - February

June 25, 2020

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Trade Expectations Compared to NASS Estimates Percent of Previous Year

95.5

95.2

99.0

104.2

98.1

103.7

94.7

95.4

101.4

105.8

98.7

105.2

92.5 94.5 96.5 98.5 100.5 102.5 104.5 106.5

Sep-Nov Farrowings

Jun-Aug Farrowings

Mar-May Pig Crop

Market Hogs

Breeding Hogs

All Hogs and Pigs

Min Trade Range Trade Average NASS

June 25, 2020

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All Hogs and Pigs First Estimate vs Final Estimate

59

64

69

74

79

84

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Million head

Lower Trade Range Trade Range ASB First Estimate ASB Final Estimate

June 25, 2020

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Breeding Herd InventoryDisposition and Utilization

Year

Mar 1Estimate(1,000 head)

Slaughter(1,000 head)

Additions(1,000 head)

Jun 1Estimate(1,000 head)

SowUtilization

(Percent)

2011 5,788 826 841 5,803 50

2012 5,820 813 855 5,862 51

2013 5,836 848 896 5,884 48

2014 5,851 775 779 5,855 48

2015 5,982 781 725 5,926 48

2016 5,980 794 793 5,979 50

2017 6,098 851 862 6,109 49

2018 6,210 855 965 6,320 50

2019 6,349 856 917 6,410 49

2020 6,375 932 883 6,326 50

June 25, 2020

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Canadian Imports by QuarterFeeder Pigs and Slaughter Hogs

(1,000 head)

79% 83% 83% 83%84% 85%

84% 85% 85% 84%84% 84%

84%

85%

83%

83% 82%83%

21% 17%17% 17%

16% 15%

16% 15% 15% 16%16%

16%

16%

15%

17%

17% 18%17%

1,453 1,401

1,366 1,375 1,409 1,412

1,327 1,326 1,326 1,320 1,257

1,222

1,398

1,262

1,124

1,267 1,299

1,221

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

2016 2017 2018 2019 2020

Feeder Slaughter

June 25, 2020

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U.S. Prices Received by Farmersfor Hogs and Corn

$1.50

$2.50

$3.50

$4.50

$5.50

$6.50

$7.50

$8.50

$30

$40

$50

$60

$70

$80

$90

$100

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Corn $/buHogs $/cwt

Hogs Corn

Hogs Corn

Month $/lbs $/buNovember 48.00 3.68

December 47.30 3.71

January 47.80 3.79

February 45.50 3.78

March 47.70 3.68

April 42.30 3.29

Hog to Corn

Month RatioNovember 13.04

December 12.75

January 12.61

February 12.04

March 12.96

April 12.86

June 25, 2020

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Upcoming Reports

June 30

AcreageGrain StocksRice Stocks

Agricultural Prices

July 1Cotton System, Fats & Oils,

Grain CrushingsDairy Products

July 10 Crop Production

July 22 Cold Storage

July 23 Livestock Slaughter

July 24Cattle

Cattle on Feed

https://www.nass.usda.gov/Publications/index.php

June 25, 2020

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All Reports Available At

www.nass.usda.gov

For Questions(202) 720-3570

(800) 727-9540

[email protected]