The USDA’s Quarterly Hogs and Pigs report shows signs of further contraction in the hog industry. 

On March 1st, the total U.S. inventory was 72.2 million head, down 2% on the year, and down 3% from December 1, 2021.  

The market hog inventory is just over 66 million head, also down 2% on the year, and down 3% from the previous quarter.  

The breeding inventory declined, indicating tighter numbers are likely in the coming months.

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