USDA released its Quarterly Hogs and Pigs Report on March 25. The report showed on March 1, 2021:
- Inventory of all hogs and pigs was 74.8 million, down 2% from March 1, 2020 and down 3% from Dec. 1, 2020.
- Breeding inventory, at 6.21 million head, was down 3% from last year and down 1% from the previous quarter.
- Market hog inventory, at 68.6 million head, was down 2% from March 1, 2020 and down 3% Dec. 1, 2020.
Hogs and Pigs Report Analysts
The Pork Checkoff hosted a webinar for pork producers following the report release and invited guest analysts to share their insights and analysis of the report.
Guest analysts included:
- Dr. Steve Meyer – Partners for Production Agriculture
- Dr. James Mintert – Center for Commercial Agriculture, Purdue University
- Joe Kerns – Partners for Production Agriculture
- Daniel Bluntzer – NFC Markets
Dr. Steve Meyer, analyst with Partners for Production Agriculture, shares an overview of the report numbers.
Joe Kerns, analyst with Partners for Production Agriculture, shares insights on the report. “This is our first clean look after three reports during the throws of COVID. It’s the best reprieve producers could have asked for — it’s very, very bullish.”
Daniel Bluntzer, analyst with NFC Markets, shares his insights on the report. “How much are these prices predicated on refilling the domestic pipeline of pork? My caution in the back of my head is not to read too much into these at face value.”
Dr. James Mintert, from the Center for Commercial Agriculture at Purdue University, shares an overview of his thoughts on the report. “It could be a very positive year for pork producers. It is going to be an opportunity for the industry to recapture some of the losses that they earned throughout a very difficult 2020.”
Full Webinar Recording
The views expressed in this webinar by our invited guests are theirs and not those of the National Pork Board. The National Pork Board does not advocate or endorse any particular production or marketing direction.