March Quarterly Hogs and Pigs

Agricultural Statistics Board Briefing

Travis Averill, Chief

Livestock Branch

March 28, 2024
2024 March Hogs and Pigs Survey

Sample Size

March 28, 2024
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)

September 1, 2023 All Hogs and Pigs 74,319 810 1,814 76,133

Pig Crop 34,229 699 1,066 35,295

December 1, 2023 All Hogs and Pigs 74,971 845 845 75,816

Pig Crop 34,617 175 175 34,792

March 28, 2024
U.S. Hogs and Pigs March 1

2023 2024 % Change from 

(1,000 head) Previous Year

All Hogs and Pigs 74,136 74,571 ↑ 0.6

Breeding Hogs 6,146 6,016 ↓ 2.1

Market Hogs 67,990 68,556 ↑ 0.8

75.8

66

68

70

72

74

76

78

80

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Million head U.S. Quarterly Hogs and Pigs

March December

74.1

74.6

Top 5 States

Inventory

(1,000 head)

Iowa 25,200

Minnesota 9,100

North Carolina 7,400

Illinois 5,600

Indiana 4,400

March 28, 2024
March 1, 2024 Hogs and Pigs Inventory

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

March 28, 2024
U.S. Hogs and Pigs March 1

2023 2024 % Change from 

(1,000 head) Previous Year

Market Hogs 67,990 68,556 ↑ 0.8

Less than 50 lbs 20,444 20,749 ↑ 1.5

50 – 119 lbs 19,049 19,333 ↑ 1.5

120 – 179 lbs 15,749 15,804 ↑ 0.3

180 lbs or more 12,748 12,670 ↓ 0.6

11

14

17

20

23

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024

Million head Market Hogs by Weight Class

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

March 28, 2024
U.S. Hogs and Pigs March 1

2023 2024 % Change from 

(1,000 head) Previous Year

Sows Farrowed 2,952 2,875 ↓ 2.6

Intentions

Mar – May 2,941 2,915 ↓ 0.9

Jun – Aug 3,040 2,987 ↓ 1.7

2.99

2.92

2.88

2.7

2.8

2.9

3.0

3.1

3.2

3.3

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Million head U.S. Quarterly Sows Farrowed

Dec-Feb Estimate Mar-May Intentions Jun-Aug Intentions

March 28, 2024
U.S. Hogs and Pigs March 1

2023 2024 % Change from

(1,000 head) Previous Year

Pig Crop 32,537 33,148 ↑ 1.9

(Number)

Pigs per Litter 11.02 11.53 ↑ 4.6

11.66

11.02

11.53

10.20

10.50

10.80

11.10

11.40

11.70

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Pigs per Litter U.S. Quarterly Pigs per Litter

December-February September-November

March 28, 2024
Trade Expectations Compared to NASS 

Estimates Percent of Previous Year

98.3

97.9

101.3

100.4

97.0

100.0

98.0

99.1

101.9

100.8

97.9

100.6

95.0 96.5 98.0 99.5 101.0 102.5

Jun-Aug Farrowings

Mar-May Farrowings

Dec-Feb Pig Crop

Market Hogs

Breeding Hogs

All Hogs and Pigs

Min Trade Range Trade Average NASS

March 28, 2024
All Hogs and Pigs 

First Estimate vs Final Estimate

64

66

68

70

72

74

76

78

80

82

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Million head

Lower Trade Range Trade Range ASB First Estimate ASB Final Estimate

March 28, 2024
Breeding Herd Inventory

Disposition and Utilization

March 28, 2024

Year

Dec 1

Estimate

(1,000 head)

Slaughter

(1,000 head)

Additions

(1,000 head)

Mar 1

Estimate

(1,000 head)

Sow

Utilization

(Percent)

2015 5,939 792 835 5,982 49

2016 6,002 782 760 5,980 49

2017 6,110 802 790 6,098 49

2018 6,179 834 865 6,210 49

2019 6,326 829 852 6,349 49

2020 6,491 873 857 6,475 49

2021 6,176 873 912 6,215 47

2022 6,175 821 794 6,148 47

2023 6,204 826 768 6,146 48

2024 5,999 887 904 6,016 48
Canadian Imports by Quarter

Feeder Pigs and Slaughter Hogs

(1,000 head)

March 28, 2024

82% 83% 85%

84%

79% 73% 73%

81%

80%

76%

75% 75% 75%

18% 75% 73% 74% 73% 17% 15%

16%

21%

27% 27%

19%

20%

24%

25% 25% 25%

25%

27% 26% 27%

1,275 

1,221 1,209 

1,352 

1,533 

1,640 1,666 1,654 

1,561 

1,693 

1,572 1,577 1,580 

1,652 

1,729 

1,676 1,678 

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

2020 2021 2022 2023 2024

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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Hogs $/cwt Corn $/bu

Hogs Corn

Hogs Corn

Month $/cwt $/bu

September 64.9 5.21

October 60.4 4.93

November 57.5 4.66

December 53.3 4.8

January 53 4.74

February 58.2 4.36

Hog to Corn

Month Ratio

September 12.46

October 12.25

November 12.34

December 11.10

January 11.18

February 13.35

March 28, 2024
Upcoming Reports

April 1 Cotton Systems, Fats & Oils, Grain 

Crushing 

April 5 Dairy Products

April 11 Crop Production

April 19 Cattle on Feed

April 23 Meat Animals - PDI

April 24 Livestock Slaughter Annual

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

March 28, 2024
2024 USDA Spring Data Users’ Meeting

Join Us Online or in Chicago

University of Chicago – Gleacher Center

450 North Cityfront Plaza Drive

Chicago, IL 60611

For more information and to register please go to

www.nass.usda.gov/go/data_users

March 28, 2024
Stat Chat

March 28, 2024
All Reports Available At

www.nass.usda.gov

For Questions

(202) 720-3570

(800) 727-9540

nass@usda.gov