Hogs and Pigs Report Economists

The Pork Checkoff hosted a webinar following the report release and invited two guest economists to share their insight and analysis of the report. Additionally, Dr. David Newman discussed creating pork demand.

Guests included:

  • Dr. Steve Meyer, Lead Economist, Partners for Production Agriculture
  • Dr. Tyler Cozzens, Agricultural Economist, Livestock Marketing Information Center
  • Dr. David Newman, Senior Vice President, Market Growth, NPB
  • Moderator: Jessica Campbell, Ohio Pork Producer and NPB Board Member

A Glimpse Into the Numbers

USDA released its Quarterly Hogs and Pigs Report on June 29. The report showed on June 1, 2023:

  • All hogs and pigs was 72.4 million head, slightly up from last year but down 1% from the March 1 inventory.
  • Breeding inventory was 6.15 million head, slightly down from last year but up 1% from March 1 inventory.
  • Market hog inventory was 66.2 million head, slightly up from last year but down 1% from March 1 inventory.
  • The March-May 2023 pig crop was 32.9 million head, up 1% from 2022.
  • Sows farrowing totaled 2.90 million head, down 2% from 2022.
  • The average pigs saved per litter was 11.36, compared to 11.00 in 2022.

Key Issues Driving the Pork Market

Dr. Meyer said three key issues will drive pork markets in the coming months:

  • California’s Proposition 12
  • Declining pork demand
  • Rising production Costs

Dr. Tyler Cozzens Analysis

Dr. Steve Meyer Analysis

Dr. David Newman – Creating Pork Demand

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.