USDA released a much anticipated quarterly Hogs and Pigs report for September today. At 73.8 million head, the total inventory as of 1 September followed the seasonal pattern of peaking for the year in September but was down from last year. This is third consecutive year-over-year decline in the September inventory, and the lowest September inventory since 2017.
Nonetheless, the report was generally in line with the pre-report expectations. The breeding herd and the June through August pig crop were slightly below the consensus forecasts, as were lighter weight feeder pigs. Like the overall swine herd, the breeding herd and market hog inventory are also the lowest since 2017.
Compared to the June report, the Septembe...
What You Need to Know Today: Crude oil prices extended their rally today, supported by several developments, including escalating Houthi attacks on Saudi Arabian oil infrastructure and growing concerns about supply disruptions. The Trump administration is reportedly preparing to remove 50 perc...
Key Takeaways: The agricultural trade surplus has become a sizable deficit: the balance swung from a $40.1 billion surplus in 2011 to a $40.7 billion deficit in 2025. Imports kept growing while exports lost momentum: between 2020 and 2025, agricultural imports increased 45 percent, compa...
USDA released its October Cattle on Feed report Friday, showing 11.4 million cattle in feedlots with capacity for 1,000 head or more, slightly below last year. September placements were the lowest for the month since records began in 1996, marking the third consecutive month of placements sett...
Total Red Meat & Poultry September 2026 total red meat and poultry stocks totaled 1.97 billion pounds, down 1.4 percent from August despite typically increasing 0.8 percent during the month, and were 1.5 percent below September 2025 levels. The decline pushed total inventories to a new five...
