There wasn’t a lot of positive news to be found in the quarterly hogs and pigs report. The inventory of hogs across the U.S. was up five percent from the same period one year ago. The market hog numbers are up six percent and the kept-for-breeding category declined 1.3 percent. Using his own formula, Decision Innovation Solutions Chief Economist David Miller estimates 2.1 million head of hogs were euthanized or marketed through direct sales. “We’re probably going to make a little headway in July in cutting into the slaughter backlog,” said Miller. “Once we get out past Labor Day, we’re going to start backing up hogs again probably to the tune of 100,000-to-200,000 head per week.”Miller anticipates “huge” hog slaughter levels this fall, keeping the market under pressure.
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