According to today’s USDA Hogs and Pigs report, the total inventory on 1 June was 75.5 million head, 104 percent of last year and 101 percent of the 1 March inventory.

The numbers announced today exceeded pre-report trade guesses.

Producers intend to have 3.18 million sows farrow during the June-August quarter, down slightly from last year. New records set in this report include the following:

1 June inventory of total hogs, largest since records began in 1964 1 June market hog inventory, largest since records began in 1964 March-May pig crop, largest since records began in 1970 March-May pigs saved per litter at 11

In fact, every swine herd record except for one has been set in the past 12 months. The only high mark t...