What's Happening?
The U.S. Department of Agriculture's National Agricultural Statistics Service (NASS) has released its quarterly report, indicating slight changes in the U.S. hog inventory. As of September 1, 2025, there were 74.5 million hogs and pigs on American farms, marking a 1% decrease from September 2024 but a 1% increase compared to June 1, 2025. The report highlights that 68.5 million of these are market hogs, while 5.93 million are kept for breeding. Between June and August 2025, farmers weaned 34.1 million pigs, a 3% decrease from the previous year. Iowa remains the leading state in hog numbers, followed by Minnesota and North Carolina.
Why It's Important?
The slight decline in hog inventory could have implications for the U.S. meat production industry, affecting supply and pricing. The decrease in breeding inventory suggests a potential tightening of future supply, which could influence market dynamics and producer margins. Iowa's continued leadership in hog numbers underscores its significance in the national meat production landscape. The report's findings may prompt industry stakeholders to adjust their strategies to maintain favorable margins, especially in light of low corn and soybean prices.
What's Next?
U.S. hog producers plan to have 2.86 million sows farrow between September and November 2025, with another 2.82 million expected to farrow between December 2025 and February 2026. These plans indicate a steady future production, which could stabilize supply and pricing in the coming months. Producers and industry analysts will likely monitor market conditions and adjust their operations to optimize margins and meet demand.
