The U.S. hog herd in the latest quarter had modest growth from year-ago levels, a U.S. government report showed on Thursday, as producers increased production in hope for less-costly feed.
The U.S. Department of Agriculture’s data showed the U.S. hog herd as of March 1 at 101 per cent of a year ago, or 65.911 million head. Analysts, on average, expected 65.456 million head, or 100.8 per cent of a year earlier.
The U.S. breeding herd was 100 per cent of a year earlier at 5.834 million head, compared with average of trade expectations for a 0.4 per cent increase or 5.843 million head.
The March 1 supply of market-ready hogs was 102 per cent of year earlier at 60.077 million head. Analysts, on average, expected a 0.9 per cent rise, or 59.650 million.
Chicago markets will be closed on Good Friday. CME hog futures could open lower on Monday based on Thursday’s report, said analysts.
— Theopolis Waters writes for Reuters from Chicago.
