USDA Hogs & Pigs Report               03/26 14:32

US March 1 Hog Inventory Up Slightly From Year Ago

                           2025               2026              2026 as
                                                                percent
                                                                of 2025
                       (1,000 head)       (1,000 head)         (percent)

All Hogs March 1         73,997              74,321               100
Kept for Breeding         5,980               5,892                99
Kept for Marketing       68,017              68,429               101

WEIGHT BREAKDOWN
Under 50 lbs.            20,811              20,851               100
50-119 lbs.              18,772              18,798               100
120-179 lbs.             15,865              15,902               100
180 lbs.                 12,569              12,878               102

FARROWINGS/INTENTIONS* 
Dec-Feb                   2,831               2,789                99
Mar-May*                  2,852               2,856               100
Jun-Aug*                  2,965               2,904                98
Dec-Feb Pig Crop         32,989              33,177               101

                          (number)          (number)           (percent)

Dec-Feb Pigs Per Litter   11.65               11.90               102


This article was originally published at 2:19 p.m. CDT on Thursday, March 
26. It was last updated with additional information at 2:32 p.m. CDT on 
Thursday, March 26.

**

OMAHA (DTN) -- United States inventory of all hogs and pigs on March 1, 
2026, was 74.3 million head. This was up slightly from March 1, 2025, but 
down 1 percent from Dec. 1, 2025, USDA NASS reported on Thursday.

Breeding inventory, at 5.89 million head, was down 1% from last year, and 
down slightly from the previous quarter.

Market hog inventory, at 68.4 million head, was up 1% from last year, but 
down 2% from last quarter.

The December 2025-February 2026 pig crop, at 33.2 million head, was up 1% 
from last year. Sows farrowing during this period totaled 2.79 million 
head, down 1% from previous year. The sows farrowed during this quarter 
represented 47% of the breeding herd. The average pigs saved per litter 
was 11.90 for the December 2025-February 2026 period, compared to 11.65 
last year.

United States hog producers intend to have 2.86 million sows farrow during 
the March-May 2026 quarter, up slightly from the actual farrowings during 
the same period one year earlier, but down 2% from the same period two 
years earlier. Intended farrowings for June-August 2026, at 2.90 million 
sows, are down 2% from the same period one year earlier, and down 3% from 
the same period two years earlier.

The total number of hogs under contract owned by operations with over 
5,000 head, but raised by contractees, accounted for 53% of the total 
United States hog inventory, up 1% from the previous year. 

REVISIONS

All inventory and pig crop estimates for March 2025 through December 2025 
were reviewed using final pig crop, official slaughter, death loss, and 
updated import and export data. The revision made to the December 2025 all 
hogs and pigs inventory was 0.2%. The net revision made to the September 
2025 all hogs and pigs inventory was 1.3%. A net revision of 2.8% was made 
to the June-August 2025 pig crop, NASS said.

DTN ANALYSIS

USDA's quarterly Hogs and Pigs report will likely be viewed by the market 
as a mixed report for the industry, according to DTN Livestock Analyst 
ShayLe Stewart. 

"On the bullish side, there was a slight decline in the breeding herd 
compared to last year, as the total inventory of sows kept for breeding 
totaled 5,892,000 head, which is down 1% from a year ago. This could bode 
well for the market, as a decrease in supply could eventually drive pork 
prices higher. 

"But where the report was simply mixed to a tick bearish was in the 
marketing data. All the weight divisions were steady with a year ago, 
except for hogs weighing 180 pounds or more, which was up 2% compared to a 
year ago at 12,878,000 head. The surplus of heavier market-ready hogs 
could mean that the cash sector won't have the opportunity to trade much 
higher, as packers have plenty of supply available to them. And it could 
even have a negative effect on pork prices at the meat counter if too much 
supply is unloaded and prices weaken at the consumer level," Stewart said.

**

To view the full Quarterly Hogs and Pigs report, visit 
https://www.nass.usda.gov/