The USDA released its Sept. 1 quarterly Hogs and Pigs report Friday which revealed strong numbers across most categories. U.S. inventory of all hogs and pigs came in at 64.6 million head, up 3 percent from the year ago period. The report showed breeding inventory at 6.14 million head, up slightly over the prior quarter.
“It looks like we’re going to slaughter over 29 million hogs in the fourth quarter of this year” says Glenn Grimes, University of Missouri Extension marketing specialist. Grimes expects a slaughter level of 10 million hogs in October, the first time that milestone would be reached, due to an extra weekday slaughter day in that month over last year. “We are looking for that fourth quarter slaughter, on a percentage basis, to be up about 4.7 percent over last year,” he continued. “For the year 2007, that will give us roughly 107.975 million marketed.
“With that, we are looking, and hoping, that we can get a price for 51 percent to 52 percent lean somewhere between $40 and $44 per hundredweight for the live price and $57 to $61 per hundredweight as far as the carcass price is concerned, and that would be net price to producers,” Grimes added.
“September was clearly a month of larger than anticipated hog slaughter” says Jim Robb, Livestock Marketing Information Center director. “We have raised our production forecast in the pork complex based on the recent slaughter data for September and on this new quarterly Hogs and Pigs report. We’re looking for about 5 percent year-to-year increase on a quarterly basis in U.S. pork production in the fourth quarter this year.”
To look at the complete USDA September 2007 Hogs and Pigs Report, go to http://www.usda.gov/nass/PUBS/TODAYRPT/hgpg0907.txt