4th Quarter Numbers Up 2%
We're up 10,000,000 hogs from 2013. That's a pretty big run-up. Are we setting up for a market down-turn?
From the NASS report.
"Of the 73.2 million hogs and pigs, 67.1 million were market hogs, while 6.18 million were kept for breeding.
Between September 2017 and November 2017, 33.4 million pigs were weaned on U.S. farms, up 3 percent from the same time period one year earlier.
From September 2017 through November 2017, U.S. hog and pig producers weaned an average of 10.74 pigs per litter.
U.S. hog producers intend to have 3.07 million sows farrow between December 2017 and February 2018, and 3.08 million sows farrow between March 2018 and May 2018.
Iowa hog producers accounted for the largest inventory among the states, at 22.8 million head. North Carolina and Minnesota had the second and third largest inventories with 9.00 million and 8.50 million head, respectively."
Re: 4th Quarter Numbers Up 2%
Pretzels & beer and beer & pretzels, they run low on beer, they make a beer run. Build more finishers because the hog prices are good, when hog prices are low they build to take advantage for when "when prices go up". Then break out in a cold sweat at the prospects that NAFTA might be renegotiated, but "build more", just in case. Crop farmers have put themselves in a similar checkmate.