December Quarterly Hogs and Pigs

Agricultural Statistics Board Briefing

Travis Averill, Chief

Livestock Branch

December 22, 2023
2023 December Hogs and Pigs Survey

Sample Size

December 22, 2023
U.S. Hogs and Pigs Revisions

Survey Item

Initial

Estimate

(1,000 head)

Current

Revision

(1,000 head)

Net 

Revision

(1,000 head)

Current 

Estimate

(1,000 head)

March 1, 2022 All Hogs and Pigs 72,209 560 1,040 73,249

June 1, 2022 All Hogs and Pigs 72,524 340 130 72,654

September 1, 2022 All Hogs and Pigs 73,800 400 725 74,525

Pig Crop 33,581 223 738 34,319

December 1, 2022 All Hogs and Pigs 73,119 106 1,837 74,956

December 22, 2023
U.S. Hogs and Pigs Revisions

Survey Item

Initial

Estimate

(1,000 head)

Current

Revision

(1,000 head)

Net 

Revision

(1,000 head)

Current 

Estimate

(1,000 head)

March 1, 2023 All Hogs and Pigs 72,860 571 1,276 74,136

June 1, 2023 All Hogs and Pigs 72,394 806 1,157 73,551

Pig Crop 32,891 463 523 33,414

September 1, 2023 All Hogs and Pigs 74,319 1,003 1,004 75,323

Pig Crop 34,229 367 367 34,596

December 22, 2023
U.S. Hogs and Pigs December 1

2022 2023 % Change from 

(1,000 head) Previous Year

All Hogs and Pigs 74,956 74,971 ↑ 0.0

Breeding Hogs 6,204 5,999 ↓ 3.3

Market Hogs 68,752 68,973 ↑ 0.3

75.3

65

67

69

71

73

75

77

79

81

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Million head U.S. Quarterly Hogs and Pigs

December September

75.0

75.0

Top 5 States

Inventory

(1,000 head)

Iowa 24,900

Minnesota 9,100

North Carolina 7,800

Illinois 5,500

Indiana 4,500

December 22, 2023
December 1, 2023 Hogs and Pigs Inventory

(1,000) Head and Percent Change from Previous Year

December 22, 2023
U.S. Hogs and Pigs December 1

2022 2023 % Change from 

(1,000 head) Previous Year

Market Hogs 68,752 68,973 ↑ 0.3

Less than 50 lbs 21,788 21,681 ↓ 0.5

50 – 119 lbs 19,134 19,039 ↓ 0.5

120 – 179 lbs 14,801 14,908 ↑ 0.7

180 lbs or more 13,029 13,344 ↑ 2.4

11

14

17

20

23

26

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023

Million head Market Hogs by Weight Class

LT 50 LBS 50 TO 119 LBS 120 TO 179 LBS GE 180 LBS

December 22, 2023
U.S. Hogs and Pigs December 1

2022 2023 2024 % Change from 

(1,000 head) Previous Year

Sows Farrowed 3,092 2,968 ↓ 4.0

Intentions

Dec – Feb 2,952 2,900 ↓ 1.8

Mar – May 2,941 2,907 ↓ 1.1

2.91

2.97

2.90

2.8

2.9

3.0

3.1

3.2

3.3

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Million head U.S. Quarterly Sows Farrowed

Sep-Nov Estimate Dec-Feb Intentions Mar-May Intentions

December 22, 2023
U.S. Hogs and Pigs December 1

2022 2023 % Change from

(1,000 head) Previous Year

Pig Crop 34,701 34,617 ↓ 0.2

(Number)

Pigs per Litter 11.22 11.66 ↑ 3.9

11.61

11.22

11.66

10.00

10.30

10.60

10.90

11.20

11.50

11.80

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Pigs per Litter U.S. Quarterly Pigs per Litter

September-November June-August

December 22, 2023
Trade Expectations Compared to NASS 

Estimates Percent of Previous Year

98.9

97.5

98.2

99.5

98.7

99.5

98.3

98.2

99.8

100.3

96.7

100.0

96.0 98.0 100.0 102.0

Mar-May Farrowings

Dec-Feb Farrowings

Sep-Nov Pig Crop

Market Hogs

Breeding Hogs

All Hogs and Pigs

Min Trade Range Trade Average NASS

December 22, 2023
All Hogs and Pigs 

First Estimate vs Final Estimate

59

64

69

74

79

84

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Million head

Lower Trade Range Trade Range ASB First Estimate ASB Final Estimate

December 22, 2023
Breeding Herd Inventory

Disposition and Utilization

December 22, 2023

Year

Sep 1

Estimate

(1,000 head)

Slaughter

(1,000 head)

Additions

(1,000 head)

Dec 1

Estimate

(1,000 head)

Sow

Utilization

(Percent)

2014 5,920 802 822 5,939 50

2015 5,986 772 789 6,002 49

2016 6,016 825 919 6,110 51

2017 6,117 839 900 6,179 51

2018 6,330 859 855 6,326 51

2019 6,431 843 964 6,551 47

2020 6,333 880 723 6,176 50

2021 6,190 831 816 6,175 49

2022 6,252 849 800 6,204 49

2023 6,179 906 726 5,999 48
Canadian Imports by Quarter

Feeder Pigs and Slaughter Hogs

(1,000 head)

December 22, 2023

84%

85%

83%

83% 82% 83% 85%

84%

79% 73% 73%

81%

80%

76%

75% 75% 75%

75% 75% 75%

16%

15%

17%

17% 18% 17% 15%

16%

21%

27% 27%

19%

20%

24%

25% 25% 25%

25%

25% 1,398 25%

1,262 

1,124 

1,267 1,275 

1,221 1,209 

1,352 

1,533 

1,640 1,664 1,654 

1,561 

1,693 

1,572 1,577 1,580 

1,652 

1,729

1,676

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2019 2020 2021 2022 2023

Feeder Slaughter
U.S. Prices Received by Farmers

for Hogs and Corn

$1.50

$2.50

$3.50

$4.50

$5.50

$6.50

$7.50

$8.50

$30

$40

$50

$60

$70

$80

$90

$100

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Hogs $/cwt Corn $/bu

Hogs Corn

Hogs Corn

Month $/cwt $/bu

May 58.8 6.54

June 64.6 6.49

July 74.3 6.22

August 73.7 5.73

September 64.9 5.21

October 60.4 4.93

Hog to Corn

Month Ratio

May 8.99

June 9.95

July 11.95

August 12.86

September 12.46

October 12.25

December 22, 2023
Selected Upcoming Reports

December 29 Agricultural Prices

January 2 Cotton Systems, Fats & Oils, Grain 

Crushing

January 5 Dairy Products

January 12

Cotton Ginnings

Crop Production

Crop Production – Annual

Grain and Rice Stocks

January 19 Cattle on Feed

January 31 Cattle

Sheep and Goats

https://www.nass.usda.gov/Publications/index.php

December 22, 2023
Register to Attend In-Person or Virtually

USDA Agricultural Outlook Forum

December 22, 2023
December 22, 2023

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For Questions

(202) 720-3570

(800) 727-9540

nass@usda.gov