Things to Consider…
All North American Hogs and Pigs were reported at 87.0 million head, up 835 thousand head or +1.0% from the previous report however were 1.6 million head or -1.8% under year ago levels. Canadian All Hogs and Pigs edged +0.2% higher on the latest report to 13,930 thousand head, which brings them 240 thousand head or -1.7% under last year.
North American Market hogs increased 850 thousand to 79.6 million head, up +1.1% from last reported and brings the current market hog inventory 1.6 million head or -2.0% under year-ago levels. Canadian market hog inventories are 230 thousand head or -1.8% lower than the year previous.
The North American Breeding herd slipped 14 thousand head under the inventories last reported in August for the Q1/Q2 2022 period, bringing the latest reporting period 19 thousand head or +0.3% over Q3/Q4 of 2021. Canada's breeding herd recorded no change from previously reported, however the current inventory is 10 thousand head or -0.8% under the year previous.
US & Canadian sows farrowed were reported +1.7% or 118 thousand head higher than the previously reported tally, however came in -1.4% or 102 thousand head under last year. The pig crop rose +3.0% from Q1/Q2 2022 period however fell -1.3% from year-ago levels. Sows farrowed in Canada fell 12 thousand head or -1.0% from last reported and is 20 thousand head or -1.6% under last year. Canada's pig crop was recorded -1.4% lower; 202 thousand head lower than previous reported and 215 thousand head under last year.
The slight reduction in overall numbers confirms little to no expansion due in part to higher then expected feed costs over the last 18 months implying ongoing slaughter levels similar or lower to 2022.