Trading was mostly quiet today, although meat and bone meal (MBM) prices did trade higher today on porcine and ruminant material.
Hog and pig herds not as low as previously expected
Hogs and Pigs Quarterly for March 2024 reported the total US hog inventory at 74.571 million head as of March 1, up 0.59% from 2023 for the respective time and lower by 1.64% from the prior report.
A larger pig crop as well as the number of pigs saved per litter for the quarter spanning December 2023 to February 2024 are responsible for the year-on-year increase.
Breeding inventory at 6.016 million head and market hog at 68.556 million head for March. Breeding inventory levels were below the prior year counts by 2.12% while marketed inventory was higher 0.83%.
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